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The oil marketing companies announced a reduction in prices for 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders. The change will be effective from April 1, 2024 after which price of a 19 kg commercial cylinder has been decreased by ₹30.50. In New Delhi, the new price is set at ₹1764.50 starting from April 1. Price of the 5 kg FTL cylinder has been lowered by ₹7.50, reported news agency ANI.
This change in prices of cylinders comes after the previous announcement made on March 1 by oil marketing companies when rates had increased for commercial liquefied petroleum gas (LPG) cylinders. At the time, OMCs announced a hike in commercial liquefied petroleum gas (LPG) gas cylinder prices increasing the prices of 19 kg commercial LPG gas cylinders by ₹25.
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. Fluctuations like these are usually influenced by changes in fuel costs and market dynamics.
After March 1, consumers witnessed a notable increase in the prices of Indane LPG gas cylinders across all metro cities. There have been two consecutive price hikes in February and March this year. Prices were slashed on the eve of New Year 2024 by ₹39.50 per 19-kg commercial cooking gas cylinder.
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