Oil marketing companies (OMCs) have recently raised the prices of commercial LPG gas cylinders, a move that is poised to have repercussions for both businesses and consumers. As of November 1, the retail cost of a 19 Kg commercial LPG gas cylinder in Delhi will undergo a notable uptick of Rs. 101, reaching a new rate of Rs. 1,833 per cylinder, according to official sources.
This price adjustment is a follow-up to the increase that occurred on October 1, when public sector OMCs augmented the price of 19 Kg commercial LPG gas cylinders by Rs. 209. Consequently, the updated price in Delhi now stands at Rs. 1,731.50, a notable contrast from the previous month's rate of Rs. 1,522.50.
Similar price hikes have been observed in other major cities, with Kolkata witnessing an increase to Rs. 1,839.50, Mumbai to Rs. 1,684.00, and Chennai to Rs. 1,898.00 for a 19 Kg commercial LPG cylinder. The surge in prices has left business owners, especially shopkeepers and restaurateurs, deeply concerned. Shopkeepers are now calling on the government to take measures to curb inflation and alleviate the financial burden on small businesses.
Monthly price revisions for both commercial and domestic LPG (liquefied petroleum gas) cylinders take place on the first day of each month, in compliance with government regulations and market dynamics. In August, OMCs took the opposite approach, reducing the prices of commercial LPG cylinders by Rs. 99.75, providing some relief to businesses and consumers. The rise in prices of commercial LPG gas cylinders presents a challenge for businesses already grappling with inflation, underscoring the necessity for policy actions to stabilize prices and support small enterprises during these challenging times.
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