Commercial LPG Cylinder Prices Slashed, Check New Rates Here

Good news for businesses! Oil marketing companies (OMCs) have just dropped the prices of commercial LPG cylinders. This change, effective from June 1, 2024, brings relief to many struggling enterprises, cutting down their expenses significantly.?Leading companies like Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise cooking gas prices on the 1st of every month. While the exact reasons for price changes aren't always clear, factors like global oil prices, taxes, and supply-demand play a part. Keep reading to know more:

Price Reductions Unveiled:

In Delhi, the price of a 19 kg commercial LPG cylinder has been slashed by Rs 69.50, bringing the new retail price down to Rs 1676. This reduction follows a previous price cut on May 1, 2024, when the rate was decreased by Rs 19 per cylinder. These back-to-back cuts are a welcome move for businesses facing tough times.

Impact Across Major Cities

BCCL

The reduction wave extends across major cities like Mumbai, Chennai, and Kolkata. Mumbai witnessed a substantial Rs 69.50 drop, setting the new price at Rs 1,629, while in Chennai and Kolkata, the prices stand at Rs 1,841.50 and Rs 1,789.50 respectively post the price cut. However, the retail prices of 14.2-kg LPG cylinders remained consistent at Rs 803 in New Delhi, Rs 829 in Kolkata, Rs 802.5 in Mumbai, and Rs 818.5 in Chennai.

Also Read:?Important Updates From June 1: New Rules For Driving License, Aadhaar Card, LPG Cylinder And More

Impact on Businesses:

The timing couldn't be better! As we enter a new month, these price reductions come as a breath of fresh air for businesses trying to keep their costs in check. Plus, government schemes like the Pradhan Mantri Ujjwala Yojana are also helping families switch to cleaner fuel options by offering subsidies on LPG.

Reason Behind Price Fluctuations:

Ever wondered why LPG prices go up and down? It's a mix of things like global oil prices, tax changes, and shifts in supply and demand. But one thing's for sure: these monthly revisions affect both homes and businesses alike.

Price Drops Continue:

This latest reduction follows another one announced on March 1, when rates were lowered by Rs 19. It's a positive trend for businesses trying to manage expenses during tough times. In April, there were more reductions, with 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders seeing prices drop further.

Also Read:?6 Rule Changes In May 2024: From LPG Gas Cylinder Prices To New Savings Account Charges; Details here

Government Schemes to Promote LPG Use:

BCCL

To encourage more households to use LPG for cooking, the government offers schemes like Pradhan Mantri Ujjwala Yojana. This gives subsidies to eligible families, making it easier to switch to cleaner fuels.

Mixed Reactions and Political Debates:

While these moves are praised, the Opposition often criticizes the government for not doing enough to control fuel prices. The impact of price changes goes beyond just LPG, affecting the prices of other essentials too. It's a topic that sparks debates on economic policies and governance.

Also Read:?After LPG Cylinders, Petrol And Diesel Get Cheaper By Rs 2 Per Liter

With OMCs stepping up to reduce commercial LPG cylinder prices, it's good news all around. For businesses, this means more savings and less stress on the bottom line. As we navigate through economic challenges, every little bit helps to keep the wheels turning.