Oil marketing companies have adjusted the prices of 19 kg commercial LPG gas cylinders, reducing them by ₹30 since Monday, July 1. According to newswire ANI, the revised retail price in Delhi now stands at ₹1646 per cylinder.
This latest reduction follows several price cuts in recent months. On June 1, the price was lowered by ₹69.50, bringing it down to ₹1676. Earlier, on May 1, 2024, a reduction of ₹19 per cylinder was implemented.
The frequent adjustments in LPG prices at the beginning of each month reflect market dynamics influenced by international oil prices, taxation policies, and supply-demand factors.
While specific reasons for the recent decrease haven’t been disclosed, it underscores the responsiveness of oil companies to economic conditions. The reduction is particularly beneficial amid current economic challenges, providing financial relief to businesses reliant on commercial LPG cylinders, notably in the food and hospitality sectors.
Moreover, government initiatives like the Pradhan Mantri Ujjwala Yojana encourage the use of LPG for cooking, offering subsidies to eligible households to promote cleaner fuels and enhance living standards.