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LPG Price Reduction: New Year Brings Big Relief As Commercial Cylinder Prices Dip

In Delhi, oil marketing companies typically revise LPG prices monthly, and the commencement of 2024 brought forth fresh rates.

Edited By : Saurav Gupta | Updated: Jan 1, 2024 10:08 IST
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LPG Price

LPG Price: The dawn of 2024 has brought a slight reprieve for commercial LPG cylinders, witnessing a marginal price drop on January 1st across Delhi and Mumbai. Oil marketing companies have slashed prices ranging from Rs 1.50 to Rs 4.50 on 19 kg commercial gas cylinders, offering a modest respite. Notably, this marks the second reduction in prices, following a prior cut just before Christmas.

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New Rates and Revisions

In Delhi, oil marketing companies typically revise LPG prices monthly, and the commencement of 2024 brought forth fresh rates. Presently, the adjustment pertains solely to commercial cylinders, leaving domestic LPG cylinder prices unchanged. Post the recent deduction, the price of a 19 kg LPG cylinder in Delhi stands at Rs 1755.50, down from Rs 1757.

Varied Rates Across Cities

The revised rates also vary across major cities. According to IOCL’s website, Kolkata witnesses a 50 paise hike, pricing commercial gas cylinders at Rs 1869. Meanwhile, in Mumbai, the cost has dipped from Rs 1710 to Rs 1708.50 for a 19 kg cylinder. Chennai, too, experiences a slight reduction, with the cylinder now available at Rs 1924.50 instead of Rs 1929.

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Prior Reductions and Domestic Prices

The recent cut echoes a significant reduction on December 22nd, where commercial LPG cylinder prices were slashed by Rs 39.50. However, no alterations have been made to domestic cylinder rates. The 14 kg domestic LPG cylinder prices remain stagnant since August 30, 2023, with no changes—priced at Rs 903 in Delhi, Rs 929 in Kolkata, Rs 902.50 in Mumbai, and Rs 918.50 in Chennai.

In conclusion, while the reduction in commercial LPG cylinder prices offers a marginal reprieve, the domestic LPG cylinder prices retain their status quo. As the year commences, consumers eagerly anticipate further developments and potential revisions in LPG prices, navigating the market’s fluctuations in anticipation of future relief.

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First published on: Jan 01, 2024 10:08 AM IST

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