NEW DELHI: On account of softer international pricing, the state-owned oil marketing companies Indian Oil Corp, Bharat Petroleum, and Hindustan Petroleum have decreased the cost of the 19-kg commercial LPG cylinder by Rs. 91.5 per cylinder.
However, the oil companies started limiting the number of refills a customer may purchase in a fortnight instead of changing the prices for residential cooking gas. According to a pricing statement from State-owned fuel dealers, the cost of a 19-kg commercial LPG cylinder was reduced from Rs. 1,976.50 to Rs. 1,885 per cylinder in the national capital. This is consistent with a lowering of global pricing.
However, the cost of LPG for cooking in domestic kitchens remained constant at Rs. 1,053 per 14.2-kg cylinder. This is because domestic cooking gas prices were far lower than their actual costs, and now that global prices have fallen, they are at breakeven, the source said. On the other hand, commercial LPG rates have mostly followed costs and have risen and fallen along with changes in international rates.
And this disparity between market-priced commercial LPG and inexpensive home cooking gas had caused cylinders intended for kitchens to be diverted into commercial buildings.
The State-owned oil companies have reportedly begun limiting the amount of a 14.2-kg refill that a family may obtain in an effort to verify this. Hindustan Petroleum Corporation Ltd. (HPCL) and Indian Oil Corporation (IOC) are likely to follow Bharat Petroleum Corporation Ltd. (BPCL) in limiting refills to one per 15 days starting on August 26.
Jet fuel price was cut by Rs.874.13 per kilolitre, or 0.7 per cent, toRs.121,041.44 per kl in the national capital. Rates differ from State to State depending on incidence of local taxes.
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These rules have changed from today, it'll have a deep impact on your pocket
All these rules will change from tomorrow, will have huge impact on your pockets