Commercial LPG cylinders have now become more expensive. The oil marketing companies (OMC) on Sunday announced a hike in the price of 19 kg commercial LPG gas cylinders and the new prices come into effect immediately, from September 1, 2024. Meanwhile, jet fuel or aviation turbine fuel (ATF) became cheaper by 4.9 per cent.
The authorities have increased the price of the commercial LPG cylinders by Rs 39. As a result of the price hike, a 19 kg LPG cylinder will now cost Rs 1,691.50 in Delhi. A month ago, the authorities introduced a small hike in the price of commercial cooking gas cylinders by Rs 6.5.
After the current price rise, a 19 kg LPG cylinder costs Rs 1,644 in Mumbai, while the price for the same stands at Rs 1,803.5 in Kolkata. The commercial LGP cylinder now costs Rs 1,856 in Chennai.
Oil marketing companies increase price of 19 kg commercial LPG cylinder by Rs 39
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This price rise comes after the companies lowered the cost of commercial cooking gas consistently for the past few months. In July, the OMC announced a reduction in 19 kg LPG cylinders’ price by Rs 30 per cylinder, while in June and May, the price cut was Rs 69.50 and Rs 19 per cylinder respectively.
These revisions are announced at the start of every month. The Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL), and Bharat Petroleum Corporation Ltd (BPCL) issue these changes in the price of cooking gas and jet fuel every month. This reflects the ever-changing nature of the market. The LPG cylinder prices are impacted by certain factors like oil prices at the global level, foreign exchange rates, taxation policies, and dynamics of supply and demand.
The sharp increase in the prices of commercial cooking gas is expected to leave an impact on businesses across sectors, ranging from hotels to restaurants to small-scale industries.
Also Read : Don’t Lose Money Because Of These Changes Starting September 1
ATF Prices Slashed
The price of ATF was slashed by 4.6 per cent, the state-owned fuel retailers revealed. This brings the revised price of jet fuel to Rs 93,480.22 per kilolitre in the national capital, down by Rs 4,495.5 per kl. This fall in jet fuel price will help domestic airlines breathe a bit easier as fuel accounts for nearly 40 per cent of their operating cost.
The fall in price comes after two steep hikes announced by the firms in August and July. Last month, the retailers raised jet fuel prices by 2 per cent or Rs 1,827.34 per kl, after hiking the price by 1.2 per cent or Rs 1,179.37 per kl in July.
