LPG Price Cut: Commercial LPG cylinder prices slashed yet again, this time by Rs 30
Agencies
Synopsis
LPG Price Cut: Oil marketing companies have reduced the price of 19 kg commercial LPG cylinders yet again/ This follows recent cuts, including a Rs 69.50 reduction on June 1. These reductions provide essential relief to businesses, especially in the food and hospitality sectors, amid economic challenges.
By ET Online
Last Updated:
In a bid to ease financial pressures on businesses, oil marketing companies have announced a reduction in the prices of commercial LPG gas cylinders, effective Monday. The cost of a 19 kg commercial LPG cylinder has been slashed by Rs 30, bringing the new price to Rs 1,646 in Delhi.
These successive price cuts offer much-needed relief to businesses grappling with operational costs in a challenging economic environment.
LPG cylinder prices are frequently adjusted at the beginning of each month, reflecting the volatile nature of the market. Key factors influencing these price changes include international oil prices, tax policies, and supply-demand conditions.
While the specific reasons for the recent price reduction haven't been disclosed, oil marketing companies often react to broader economic conditions in their decisions.
The ongoing reduction in LPG prices is particularly crucial for businesses in the food and hospitality sectors, which heavily depend on commercial LPG cylinders for their operations. These price cuts provide essential financial relief, helping these businesses manage their costs more effectively and potentially allowing them to offer better prices to their customers.
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This latest reduction continues a trend of price cuts over recent months. On June 1, the price of a 19 kg commercial LPG cylinder was reduced by Rs 69.50, lowering the price to Rs 1,676 in Delhi. Earlier, on May 1, 2024, there was another LPG price cut of Rs 19 per cylinder.These successive price cuts offer much-needed relief to businesses grappling with operational costs in a challenging economic environment.
LPG cylinder prices are frequently adjusted at the beginning of each month, reflecting the volatile nature of the market. Key factors influencing these price changes include international oil prices, tax policies, and supply-demand conditions.
While the specific reasons for the recent price reduction haven't been disclosed, oil marketing companies often react to broader economic conditions in their decisions.
The ongoing reduction in LPG prices is particularly crucial for businesses in the food and hospitality sectors, which heavily depend on commercial LPG cylinders for their operations. These price cuts provide essential financial relief, helping these businesses manage their costs more effectively and potentially allowing them to offer better prices to their customers.
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