Public sector oil marketing companies (OMCs) have reduced the prices of 19 KG commercial liquefied petroleum gas (LPG) cylinders by Rs 158. These prices will be effective from 1 September 2023. The announcement comes days after the government slashed the prices of domestic LPG cylinders by Rs 200 on the eve of Raksha Bandhan. With this, commercial gas cylinders will now cost Rs 1,522.50 in Delhi.
On Friday, the BSE Oil & Gas index surged over 250 points or 1.39 per cent to Rs 18,700 mark. ONGC shares gained 4.3 per cent to Rs 181.80.
The prices of both commercial and domestic gas cylinders get updated on the first day of the month. The prices of commercial LPG cylinders were slashed by Rs 99.75 in early August, while in July the prices were increased by Rs 7. However, there had been significant price reductions done by the OMCs before this hike. The prices of commercial LPG cylinders had been consecutively decreased with cuts of Rs 91.50, 172, and 83 in April, May, and June, respectively, according to a report by The Mint.
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However, there were stark increases in the prices of both commercial and domestic LPG cylinders in March by Rs 350.50 and Rs 50 per unit, respectively.
Apart from Delhi, the prices of commercial LPG cylinders stand at Rs 1,636 in Kolkata, Rs 1,482 in Mumbai, and Rs 1,695 in Chennai.
In addition, the central government reduced the agriculture infrastructure development charge on imports of LPG, liquefied propane, and liquefied butane to zero.
