National Desk, 1st February: Oil Marketing Companies (OMCs) have declared an Rs 14 price hike for commercial LPG cylinders from February 1, 2024. The new price for a 19kg cylinder in New Delhi will be Rs 1769.50.
However, domestic LPG (14.2kg) prices remain unchanged. State-owned companies, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), revise cooking gas and ATF prices monthly based on the previous month’s average international price.
Simultaneously, OMCs have reduced the price of Aviation Turbine Fuel by approximately Rs 1221 per kiloliter, marking the fourth consecutive reduction.
The changes take effect from February 1, 2024. The commercial LPG price increase precedes the union budget, making these cylinders more expensive, while domestic LPG prices have remained stable since August 2023. Commercial LPG prices have seen frequent monthly revisions over the past three years, with approximately 50 rate changes since January 1, 2021.