19-kg commercial LPG cylinder price slashed by Rs 19 from May 1; Know how much how it costs in your city
By Team Asianet Newsable | First Published May 1, 2024, 11:18 AM ISTOil marketing companies (OMCs) have reduced the price of commercial LPG cylinders by Rs 19 in Delhi from May 1. This price adjustment follows similar reductions in other metro cities across India, coinciding with the ongoing Lok Sabha Elections 2024.
Effective May 1, oil marketing companies (OMCs) have initiated a reduction in the prices of commercial LPG gas cylinders. The selling price of a 19kg commercial LPG cylinder in Delhi was Rs 1,745.50. Similar decreases have occurred in other major cities across India.
Mumbai will also see a Rs 19 cut, with the revised ticket set at Rs 1,698.50. The price in Chennai is Rs 1,911, while in Kolkata it is Rs 1,859 after a Rs 20 discount.
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The price cut is consistent with the recent drop in global oil prices, which have decreased for the third day in a row due to swelling petroleum stocks in the United States and increased confidence about a possible ceasefire accord in the Israel-Hamas conflict.
It is worth mentioning that oil marketing organizations such as Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation (IOC), and Hindustan Petroleum Corporation Ltd (HPCL) usually modify LPG rates on the first of the month.
This decrease in prices aligns with the recent decline in global oil prices, which have fallen for the third consecutive day. Factors contributing to this decline include rising crude inventories in the US and growing optimism about a potential ceasefire agreement in the Middle East.
In April, these businesses announced a price drop for 19 kilogram commercial cylinders and 5 kg Free Trade LPG (FTL) cylinders. Brent LCOc1 oil futures for July slipped 47 cents, or 0.5%, to $85.86 a barrel at 0005 GMT. US West Texas Intermediate crude for June CLc1 fell 53 cents, or 0.6%, to $81.40 a barrel, according to Reuters.
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