Commercial LPG cylinder price slashed; check city-wise rates

Petroleum companies generally revise the prices of LPG cylinders on April 1, the first day of the new financial year. According to a report by LiveMint, the rate of commercial gas cylinders has been cut by nearly ₹92 on the first day of fiscal year 2024. However, the price of domestic LPG gas cylinders remains unchanged.

Last month, the Centre had raised the cost of 14.2 kg gas cylinders by ₹50 and commercial gas cylinders by ₹350.

The rate of domestic LPG cylinders was hiked four times in 2022. In January this year, the price of commercial cylinders was increased by ₹25, costing ₹1,768 in Delhi.

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Compared to domestic LPG cylinders, the rates of commercial gas tend to fluctuate more. Last year this time, a 19kg commercial gas cylinder was retailing at ₹2,253 in Delhi. In one year, commercial gas cylinders have seen a price drop of ₹225 in the national capital alone.

In March, union minister Anurag Thakur said that 9.59 crore beneficiaries of Pradhan Mantri Ujjwala Yojana (PMUY) scheme will get a subsidy of ₹200 on every 14.2 kg LPG gas cylinder annually. All households are eligible for 12 subsidised domestic LPG cylinders, with any additional ones to be bought at market price.

Oil fell for the fifth consecutive month, culminating in its second quarterly drop since early 2020. Prices have slid against a backdrop of gloomy US economic sentiment and a banking crisis that rattled broader markets.

(With inputs from Bloomberg)