LPG price hike: OMCs increase 19-Kg commercial LPG cylinder prices by Rs 39; now costs Rs 1,691 in Delhi
PTC News Desk: Oil marketing companies (OMCs) have announced a price hike for 19-kg commercial LPG cylinders, effective September 1. The new retail price in Delhi is now ₹1,691.50 per cylinder, reflecting an increase of ₹39 from the previous rate.
This abrupt rise in LPG prices is expected to impact a range of businesses, including restaurants, hotels, and small-scale industries, all of which rely heavily on commercial LPG. The increased cost is likely to be passed on to consumers, exacerbating the already rising expenses for many businesses.
Prior to this increase, OMCs had reduced the price of commercial LPG cylinders by ₹30 on July 1, providing some relief to commercial establishments. This adjustment had lowered the retail price of a 19-kg cylinder in Delhi to ₹1,646. Earlier, on June 1, the price had been cut by ₹69.50, bringing it down to ₹1,676. Additionally, there had been a previous reduction of ₹19 per cylinder on May 1.
These regular price adjustments, occurring at the beginning of each month, underscore the volatility and responsiveness of the LPG market. Factors influencing these price changes include fluctuations in international oil prices, taxation policies, and supply and demand dynamics.
While the specific reasons for the latest price hike have not been detailed, it is clear that OMCs are adapting to broader economic conditions and market trends. The price adjustments reflect the ongoing adjustments needed to align with global and domestic economic factors affecting the oil and gas sector.
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- With inputs from agencies
