In an effort to alleviate financial pressures on businesses, oil marketing companies have announced a price reduction for commercial LPG gas cylinders, effective Monday. The cost of a 19 kg commercial LPG cylinder has been decreased by Rs 30, setting the new price at Rs 1,646 in Delhi.
This latest price cut continues a series of reductions over the past few months. On June 1, the price of a 19 kg commercial LPG cylinder was reduced by Rs 69.50, bringing it to Rs 1,676 in Delhi. Prior to that, on May 1, 2024, there was a reduction of Rs 19 per cylinder.
These consecutive price reductions provide much-needed relief for businesses facing high operational costs in a tough economic climate.
LPG cylinder prices are regularly adjusted at the beginning of each month, reflecting the volatile nature of the market. Factors such as international oil prices, tax policies, and supply-demand dynamics play a significant role in these adjustments.
Although the specific reasons for the recent price cut have not been disclosed, oil marketing companies typically respond to broader economic conditions when making pricing decisions.
The ongoing reduction in LPG prices is especially important for businesses in the food and hospitality sectors, which rely heavily on commercial LPG cylinders. These price cuts offer essential financial relief, aiding these businesses in managing their costs more effectively and potentially enabling them to offer better prices to their customers.
