New Delhi, May 01: Users of commercial LPG gas cylinders can breathe a sigh of relief as oil marketing companies on May 1 announced a considerable reduction in the cost of these cylinders.
According to sources, the cost of commercial LPG cooking gas cylinders has decreased by Rs 171.50. The new costs are effective as of right now.
19 kilogram commercial LPG cylinders would now cost Rs 1856.50 in Delhi, per the revised tariffs. Domestic cylinder costs, however, have not altered. As before, 14.2 kg gas chamber tests are being conducted.
This is the second time in a month that the cost of commercial LPG cylinders has decreased. On April 1, the petroleum and oil marketing companies decreased the cost of a 19-kilogram commercial LPG cylinder by Rs 91.50.
Every month, the cost of LPG is evaluated. A review is conducted while keeping certain things in mind, and the results are used to determine whether to raise or lower petrol prices. Import Parity Price (IPP) is the formula used to calculate cooking gas prices.
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International gas prices have a significant effect on India because cooking gas is largely an import-dependent commodity. Crude oil is the primary component of cooking gas; hence its price has a significant effect on it as well.
Saudi Aramco’s LPG price is the industry standard in India. The cost of petrol includes FOB, freight, insurance, customs charge, and port duty.
On the other hand, customers in Delhi on Monday had to spend Rs 96.72 for a litre of gasoline and Rs 89.62 for the same amount of diesel. Similar prices can be found in Mumbai, where customers must pay Rs 106.31 for a litre of gasoline and Rs 94.72 for the same amount of diesel.
A sigh of relief is heard from the common people when worldwide inflation and the price of commodities rise. It feels like a cool breeze in a sweltering summer. Commercial LPG’s price reduction has made businessmen happy.
