In a bid to ease financial pressures on businesses,indian oil marketing companies have announced a reduction in the prices of commercial LPG gas cylinders, effective Monday. The cost of a 19 kg commercial LPG cylinder has been slashed by Rs 30, bringing the new price to Rs 1,646 in Delhi.
This latest reduction continues a trend of price cuts over recent months. On June 1, the price of a 19 kg commercial LPG cylinder was reduced by Rs 69.50, lowering the price to Rs 1,676 in Delhi. Earlier, on May 1, 2024, there was another LPG price cut of Rs 19 per cylinder.
LPG cylinder prices are frequently adjusted at the beginning of each month, reflecting the volatile nature of the market. Key factors influencing these price changes include international oil prices, tax policies, and supply-demand conditions.
While the specific reasons for the recent price reduction haven't been disclosed, indian oil marketing companies often react to broader economic conditions in their decisions.
source:The Economic Times
