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
