Oil marketing companies (OMCs) have raised the price of 19 kg commercial LPG cylinders by Rs 39, bringing the cost in Delhi to Rs 1,691.50, effective September 1.
This increase follows a trend of recent price cuts over the past few months. In July, prices dropped by Rs 30 per cylinder, with previous reductions of Rs 69.50 in June and Rs 19 in May.
LPG prices fluctuate frequently due to various factors such as global oil prices, tax policies, and supply-demand shifts. Although the specific reasons for this price hike haven’t been revealed, it reflects the OMCs’ response to changing market conditions.
This sudden rise in LPG prices is expected to affect businesses in multiple sectors, including restaurants, hotels, and small industries. As costs increase, it will be crucial to monitor how this impacts their operations and financial stability.
Commercial LPG Cylinder Prices Hiked
Starting Sunday, the cost of commercial LPG cylinders has increased following an announcement by oil marketing companies. The new pricing reflects a significant change, with the price for a 19 kg commercial LPG cylinder in Delhi rising by Rs 39 as of September 1. This adjustment brings the retail price of the cylinder to Rs 1,691.50.
This increase is part of the regular pricing updates carried out by the oil marketing companies, which are influenced by various factors including global oil prices, tax regulations, and shifts in supply and demand. The new rates have been implemented immediately, impacting businesses that rely heavily on LPG, such as restaurants, hotels, and other commercial establishments.
The sudden rise in LPG prices could place additional financial strain on these businesses, potentially leading to higher operational costs. As these revised rates take effect, it will be important to observe how businesses adapt to these changes and manage their expenses.
Also Check: Bank Holidays in September 2024
August 2024 LPG Cylinder Price Increase
On August 1, the price of a 19 kg LPG cylinder went up by ₹8.50 across India, including major cities like New Delhi, Mumbai, Kolkata, and Chennai. Here’s how the new prices look:
- New Delhi: The price increased from ₹1,646 to ₹1,652.50, which is an increase of ₹6.50.
- Kolkata: The price went up by ₹8.50, reaching ₹1,764.50.
- Mumbai: The cost was ₹1,605.
- Chennai: The price was set at ₹1,817.
This price hike in August comes after a reduction in July. During July, prices were lowered as follows:
- New Delhi: The price dropped from ₹1,676 to ₹1,646.
- Mumbai: The cost fell from ₹1,629 to ₹1,598.
- Chennai: The price decreased from ₹1,840 to ₹1,809.
- Kolkata: The cost was reduced from ₹1,787 to ₹1,756.
Additionally, on June 1, there was a significant price cut for commercial LPG. The price was reduced by around ₹69. This followed an earlier reduction on May 1, where the price fell by ₹19 per cylinder.
Also Read: Zee and Sony India Resolve Legal Dispute Over Terminated $10 Billion Merger
Commercial LPG Cylinder Prices Hiked FAQs
Q.1. Why has the price of the 19 kg commercial LPG cylinder increased?
Ans. The price increase is due to changing market conditions, including fluctuations in global oil prices, tax policies, and supply-demand dynamics.
Q.2. What is the new price of the 19 kg commercial LPG cylinder in Delhi?
Ans. As of September 1, the price in Delhi has risen to ₹1,691.50.
Q.5. How have LPG prices changed over the past few months?
Ans. Prices have seen fluctuations, with reductions of ₹30 in July, ₹69.50 in June, and ₹19 in May before the recent increase.
Q.4. Which businesses are most affected by the LPG price hike?
Ans. Businesses that rely heavily on LPG, such as restaurants, hotels, and small industries, are expected to be most impacted by the price increase.
Q.5. How often do LPG prices change?
Ans. LPG prices can fluctuate frequently due to various factors, including global oil prices, tax policies, and changes in supply and demand.
