New Delhi: Oil marketing companies have recently announced a welcome reduction in the prices of two key types of liquefied petroleum gas (LPG) cylinders: the 19 kg commercial cylinders and the 5 kg Free Trade LPG (FTL) cylinders. This decision, relayed by sources within the industry, indicates a significant decrease in prices.
Specifically, the price of a 19 kg commercial cylinder has been slashed by Rs 30.50, resulting in a revised price of Rs 1764.50 in Delhi as of April 1. Similarly, the price of the 5 kg FTL cylinder has seen a reduction of Rs 7.50.
This development follows a previous announcement by oil marketing companies regarding a hike in the prices of commercial LPG gas cylinders on March 1. This increase occurred amidst the backdrop of fluctuating fuel costs and market dynamics. Previously, on February 1, the prices of Indane gas cylinders had varied across metro cities, showcasing distinct rates in Delhi, Kolkata, Mumbai, and Chennai. However, the beginning of March saw uniform price hikes across all metro cities.
Although the precise reasons behind the recent price reduction remain undisclosed, it is likely influenced by various factors such as changes in international oil prices, alterations in taxation policies, and shifts in supply-demand dynamics.
The consecutive revisions in LPG cylinder prices underscore the inherent volatility of the energy market. These fluctuations have far-reaching implications for households and businesses that rely on commercial LPG cylinders, highlighting the importance of closely monitoring market trends and adapting to changes accordingly.
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