NEW DELHI: The cost of commercial gas cylinders has witnessed a decline subsequent to the government's decision to cut domestic LPG rates. As of the latest update, public sector Oil Marketing Companies (OMCs) have implemented a substantial reduction in the price of 19 KG commercial LPG gas cylinders. The price adjustment has amounted to a noteworthy reduction of Rs. 158.
The prominent player in this arena, Indian Oil, has proactively taken steps to lower the rates of commercial LPG cylinders by a substantial Rs. 158 for every 19-kilogram cylinder in the national capital, Delhi. As a result of this measure, Indian Oil now offers the 19-kg cylinder at a revised price of Rs. 1,522.50.
The revision in rates for both commercial and domestic LPG (liquefied petroleum gas) cylinders is part of a regular monthly practice. These revisions, effective from the start of each month, have now come into effect starting from September 1.
Notably, a prior adjustment in August saw a reduction of Rs. 99.75 in the prices of commercial LPG cylinders, contributing to a positive trend. In contrast, July experienced an increase of Rs. 7 in the prices of commercial LPG gas cylinders.
Analyzing the broader trajectory, it's essential to recall the earlier instances of price adjustments in the realm of commercial LPG cylinders. In a positive turn of events for consumers, there were consecutive price cuts witnessed in May and June earlier this year. Specifically, the month of May saw a remarkable reduction of Rs. 172 in the price of a commercial LPG cylinder, while June marked a notable decrease of Rs. 83.
Furthermore, the month of April witnessed a commendable reduction of Rs. 91.50 per unit, effectively contributing to improved affordability for consumers.
The persistent escalation of cooking gas prices has emerged as a prominent concern over the past couple of years, positioning it as a focal point even in electoral debates. As the Congress party adeptly utilized the issue of high LPG prices during the recently concluded assembly elections in Karnataka, it underscores the significance of addressing this concern.
In a strategic move aimed at mitigating the impact of inflation on households and countering opposition claims, the Central government's decision to reduce LPG prices resonates as a prudent choice. It also stands as a response to the Congress party's promise of cheaper LPG in the upcoming assembly elections.
Separately, it's noteworthy that the Central government has taken the initiative to eliminate the agricultural infrastructure development levy on imports of liquefied petroleum gas (LPG), liquefied propane, and liquefied butane. This move holds significance within the broader context of economic considerations.
Shifting focus to a related development, Oil Marketing Companies have undertaken a price hike in jet fuel by 14%, setting the new rate at Rs. 1.12 lakh per kiloliter (kl) in Delhi. This hike comes ahead of the festive season and marks a substantial increase of approximately 24% over the past two months.
Notably, the fluctuating landscape of LPG and related fuels continues to be a matter of considerable interest and concern, with economic and political implications influencing these dynamic changes.
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