Commerical LPG cylinder rate revised, price cut by Rs 36
The latest price revision means that from Monday, a 19 kg commercial cylinder will now cost Rs 1976 in Delhi, Rs 1936.50 in Mumbai, Rs 2095.50 in Kolkata, Rs 2141 in Chennai, Rs 2063.50 in Bengaluru, and Rs 2197.50 in Hyderabad.
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FollowIndian Oil, on August 1, slashed the price of a 19 kg LPG cylinder by Rs 36. This is the second such reduction in the rates within 30 days. The LPG price was cut on July 6 by Rs 8.50 per 19-kg cylinder. The rates vary from state to state depending on local taxes like Value Added Tax. The higher the taxes, the higher the LPG cylinder prices.
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The latest price revision means that from Monday, a 19 kg commercial cylinder will now cost Rs 1976 in Delhi, Rs 1936.50 in Mumbai, Rs 2095.50 in Kolkata, Rs 2141 in Chennai, Rs 2063.50 in Bengaluru, and Rs 2197.50 in Hyderabad.
However, The price of the 14.2-kg domestic cooking cylinder remains unchanged. Domestic LPG consumers saw the price of the cylinder going up in July. On July 6, state-owned oil marketing companies increased the price of cylinders used in domestic households by Rs 50. The July 6 hike meant that the domestic LPG cylinders cost Rs 1,053 in the national capital compared to Rs 1,003 per cylinder earlier.
Oil prices dip
Amid expectations from this week's meeting of officials from the Organization of the Petroleum Exporting Countries and other top producers on supply adjustments, oil prices dropped on Monday.
By 0000 GMT (0530 IST), the US West Texas Intermediate crude was trading at $97.87 a barrel, down 75 cents. This, after it hit a session low of $97.55 when trading commenced in Asia. The Brent crude futures shed 63 cents to $103.34 a barrel.
Soaring inflation and higher interest rates saw both WTI and Brent ending July with their second straight monthly losses -- the first time since 2020.
Meanwhile, the fuel prices in India remained unchanged on August 1. In Delhi, the price of a litre of petrol stood at Rs 96.72 while diesel was being sold at Rs 89.62 a litre. In Mumbai, petrol costs Rs 106.31 a litre while diesel was priced at Rs 94.27 per litre. In Kolkata, consumers are paying Rs 106.03 per litre of petrol, while for diesel, the amount was Rs 92.7. In Chennai, the petrol price is Rs 102.63 per litre, while for diesel, the retail price is Rs 94.24 per litre.
Also Read: India's forex reserves have fallen by another $1.15 billion
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