State-owned oil companies have dropped the prices of commercial LPG cylinders by Rs.30.5 to Rs.32.0 in major cities, just ahead of the upcoming Lok Sabha elections starting on April 19.
In Delhi, the 19-kg commercial cooking gas cylinder is now priced at Rs.1,764.50, a decrease of Rs.30.5 from March's price of Rs.1,795. Similar reductions were seen in Kolkata, Mumbai, and Chennai, with prices now at Rs.1,879, Rs.1,717.50, and Rs.1,930 per cylinder respectively, effective from Monday.
These price cuts follow a previous increase of about Rs.25 on March 1. This reduction is likely to bring relief to hotels and restaurants, major consumers of commercial LPG cylinders, as prices are typically revised monthly.
Additionally, in a bid to lower operational costs for airlines and potentially decrease flight ticket prices, oil companies have also reduced the prices of aviation turbine fuel (ATF). In Delhi, the price of ATF for domestic airlines is now set at Rs.1,00,893.63 per kilolitre, down by Rs.502.91 from March.
Similar reductions were applied in Kolkata, Mumbai, and Chennai, with jet fuel prices now at Rs.1,09,898.61, Rs.94,466.41, and Rs.1,04,973.36 per kilolitre respectively. ATF prices for Indian airlines on international routes have also been revised downwards.
Earlier in March, the government announced a Rs.100 cut in domestic cooking gas prices and extended the Rs.300 subsidy for LPG cylinders for beneficiaries under the Pradhan Mantri Ujjwala Yojana for the upcoming fiscal year (FY25), amounting to an outlay of Rs.12,000 crore.
Oil marketing companies also reduced petrol and diesel prices by around Rs.2 per litre effective from March 15, just before the enforcement of the model code of conduct for the general elections.
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