Price of commercial LPG cylinder hiked by Rs 14 on Budget day

Oil Marketing Companies (OMCs) have announced a price hike of Rs 14 for commercial LPG cylinders from February 1, 2024. The price for a 19kg cylinder in New Delhi will be Rs 1769.50, an increase from Rs 1755.50. Prices in Kolkata, Mumbai and Chennai have been revised to Rs 1887.00, Rs 1723.50 and Rs 1937.00 respectively.

However, domestic LPG (14.2kg) prices remain the same at Rs 903 in Delhi, Rs 929 in Kolkata, Rs 902.50 in Mumbai and Rs 918.50 in Chennai. Additionally, OMCs have slashed the price of Aviation Turbine Fuel by approximately Rs 1221 per kiloliter, marking the fourth consecutive reduction.

These changes will take effect from February 1, 2024. State-owned companies including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise cooking gas and ATF prices every month based on the previous month's average international price.

The price increase for commercial LPG cylinders comes ahead of Thursday’s union budget, making these cylinders more expensive, while domestic LPG prices have been steady since August 2023.

Over the past three years, commercial LPG prices have seen almost monthly revisions, whereas domestic LPG prices have been revised 17 times. The price for a 19kg cylinder on January 1, 2021, was Rs 1349, with around 50 rate changes since then, as per IOC.

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