The oil marketing companies on Monday announced a reduction in prices for 19 kg commercial cylenders and 5 kg FTL (Free Trade LPG) cylinders, effective from April 1, 2024.
The price of a 19 kg commercial cylinder has been decreased by Rs 30.50, with the new price set at Rs 1764.50 in Delhi starting from April 1. Similarly, the price of the 5 kg FTL cylinder has been lowered by Rs 7.50, reported ANI, citing sources.
Jet fuel or ATF price was also cut by a marginal 0.5 per cent. Aviation turbine fuel (ATF) price was cut by Rs 502.91 per kilolitre or 0.49 per cent, to Rs 100,893.63 per kl in the national capital, according to a price notification of state-owned fuel retailers.
Rates in Mumbai have been cut to Rs 94,466.41 per kl from Rs 94,809.22.
Prices differ from state to state depending on the incidence of local taxes.
This adjustment in prices contrasts with the previous announcement made on March 1, when oil marketing companies had increased the prices of commercial liquefied petroleum gas (LPG) cylinders.
Such fluctuations in pricing are typically influenced by shifts in fuel costs and market dynamics.
On February 1, the prices of Indane gas cylinders varied across metro cities, with Delhi, Kolkata, Mumbai, and Chennai each having distinct rates.
However, with the advent of March 1, consumers witnessed a notable increase in the prices of Indane LPG gas cylinders across all metro cities.
While the precise reasons behind the price decrease remain undisclosed, various factors, such as changes in international oil prices, shifts in taxation policies, and supply-demand dynamics, likely contribute to such adjustments.
The consecutive revisions emphasise the volatile nature of the energy market and its implications for households and businesses reliant on commercial LPG cylinders.
Apr 01,2024
Source: Economic Times