Business News | Oil Marketing Companies Reduce Prices of Commercial LPG Cylinders by Rs 69.50

New Delhi [India], June 1 (ANI): In a move aimed at offering relief to businesses and commercial enterprises, oil marketing companies have announced a reduction in the prices of commercial LPG gas cylinders.

Effective today, the rate of 19 kg commercial LPG cylinders has been slashed by Rs 69.50 in Delhi, with the retail sales price now standing at Rs 1676.

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This latest reduction comes on the heels of a previous price adjustment on May 1, 2024, when the rate of 19 kg commercial LPG cylinders was lowered by Rs 19. The consecutive decreases in price signal a positive trend for businesses grappling with operating costs amid economic challenges.

With the beginning of a new month, the prices of LPG cylinders change. The government is running various schemes to promote the use of LPG cylinders for cooking in homes, like Pradhan Mantri Ujjwala Yojana, which provides subsidies to eligible families.

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A month ago, on May 1, oil marketing companies slashed the prices of commercial LPG gas cylinders by Rs 19 per unit with immediate effect.

The retail sales price of a 19 kg commercial LPG cylinder was then Rs 1745.50 in Delhi, sources said.

The Opposition, led by the Congress, has often taken potshots at the BJP-led ruling National Democratic Alliance (NDA) at the Centre for failing to rein in fuel prices and its ripple effect on the prices of essential food items and other commodities.

While the precise reasons behind the price decrease remain undisclosed, various factors, such as changes in international oil prices, shifts in taxation policies, and supply-demand dynamics, likely contribute to such adjustments.

Revisions for both commercial and domestic LPG (liquefied petroleum gas) cylinders typically occur on the first day of each month. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)