Monday, October 14, 2024
Advertisement
  1. You Are At:
  2. News
  3. Business
  4. LPG price cut ahead of elections: Oil marketing companies slash rates for 19-kg commercial. Check revised rate

LPG price cut ahead of elections: Oil marketing companies slash rates for 19-kg commercial. Check revised rate

Oil marketing companies have reduced prices for 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders, effective April 1, 2024, just before the Lok Sabha elections.

Edited By: Nitin Kumar @Niitz1 New Delhi Published on: April 01, 2024 10:23 IST
LPG price cut
Image Source : INDIA TV LPG price cut ahead of the elections. Check revised rate

Oil marketing companies have announced a reduction in prices for 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders, effective from April 1, 2024, just ahead of the Lok Sabha elections. 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, as reported by ANI, citing sources.

Fluctuating prices reflect market dynamics

These price adjustments come in contrast to 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 metropolises, with Delhi, Kolkata, Mumbai, and Chennai each having distinct rates.

Factors behind price adjustments

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.

Also read | Income tax department cracks down on PAN fraud for false HRA claims

Advertisement

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from Business

Advertisement
Advertisement
Advertisement
Advertisement