Commercial LPG cylinder prices slashed again: Check details
What's the story
Petroleum and oil marketing companies made the decision to slash the price of commercial liquefied petroleum gas (LPG) cylinders by Rs. 171.5 with immediate effect on Monday, according to the news agency ANI. It is, however, worth noting that the cost of domestic LPG cylinders remains unchanged despite the latest reduction in commercial cylinder prices.
Details
Prices of commercial LPG cylinders state-wise
As a result of the changes, the retail sale price of a 19kg LPG cylinder in Delhi will now cost Rs. 1,856.5. Meanwhile, it will cost Rs. 1,808 in Mumbai, down from Rs. 1,980 previously. In Kolkata, the commercial LPG cylinder will cost Rs. 1,960.5, compared to Rs. 2,132 earlier. In Chennai, it will cost Rs. 2,021, compared to Rs. 2,192 last month.
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Fuel prices in India remain same
Petrol and diesel prices, on the other hand, remained unchanged on the first day of the month. While diesel costs Rs. 89.62 per liter in Delhi, petrol costs Rs. 96.72 per liter in the national capital. Notably, the prices of LPG cylinders were increased four times and reduced three times last year.
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Details on recent price slashes
The prices of commercial LPG cylinders were reduced the last time by Rs. 91.5 on September 1. On August 1, 2022, the prices of commercial LPG cylinders were also reduced by Rs. 36. Prior to that, the rates for the 19kg commercial LPG cylinder were slashed by Rs. 8.5 per unit on July 6.
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Here's how LPG prices are calculated
LPG cylinder costs are calculated based on import parity price (IPP). The LPG retail price is altered at the beginning of each month after taking into consideration the global crude oil rates. The variation in prices across states is due to the cost of transportation of respective states, the value added tax (VAT), and the crude oil price in the global market.