New Delhi: In a significant respite for commercial enterprises nationwide, oil marketing companies have announced a welcome reduction of ₹58.50 in the price of 19-kg commercial LPG cylinders, effective from today, July 1st. This latest price adjustment brings down the cost of a cylinder in Delhi to a more palatable ₹1,665, a move that is expected to considerably ease the financial burden on sectors like hospitality and food services, which are heavy consumers of commercial LPG.
This marks the third consecutive month that commercial LPG prices have seen a downward revision, indicating a sustained positive trend for businesses. Last month, prices were lowered by ₹24, following an earlier reduction in April when the cost, which stood at ₹1,762, was brought down to ₹1,723.50. Prior to that, February saw a ₹7 cut, though there was a slight ₹6 increase in March. A top official from one of the oil marketing giants confirmed the development, stating, “The rate of 19-kg commercial LPG cylinders has been reduced by ₹58.50, effective from today.” This announcement is set to be a boon for a wide array of businesses including hotels, restaurants, bakeries, and small-scale industries, many of whom have been battling escalating operational costs.
However, the much-anticipated relief for common households remains elusive. There has been no change whatsoever in the prices of 14.2-kg domestic LPG cylinders. Despite a persistent public outcry for a review in the wake of rising household expenditures, oil companies have maintained their stance, keeping domestic LPG prices untouched. Industry observers suggest that the current reduction in commercial LPG prices could be influenced by international crude oil trends and supply-demand dynamics. Nevertheless, they also note that the continued lack of any concession on domestic cylinders is likely to keep the financial pressure on average Indian households.
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