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Oil Companies Reduce Prices of Commercial and LPG Cylinders: Know Here

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New Delhi: 1 April 2024

It was announced last month by oil companies that there would be an increase in the prices of LPG cylinders. The prices of 19 kg commercial cylinders were hiked by 25 rupees, resulting in the price rising to 1795 per cylinder.

The prices of 19 kg commercial cylinders and 5 kg FTCL (Free Trade LPG) cylinders have been reduced by oil companies. Sources indicated that the price of the 19 kg commercial cylinder has been decreased by 30.50 rupees. In Delhi, from April 1, its price will be 1764.50. The price of a 5 kg FTCL cylinder has now been reduced by 7.50 rupees.

On March 1, oil companies had announced an increase in the prices of LPG cylinders. The prices of 19 kg commercial cylinders were raised by 25 rupees, after which the price rose to 1795 per cylinder. Following March 1, there was an increase in the prices of Indane gas cylinders in all metro cities, despite the varying prices among cities like Delhi, Kolkata, Mumbai, and Chennai on February 1.

The government had raised the unexpected benefit on domestically produced crude oil from 3,300 rupees per ton to 4,600 rupees per ton in March. This was levied as a special additional excise duty (SAED). As per the notification, the unexpected benefit was increased on household crude oil, while the tax on diesel exports was reduced from 1.50 rupees per liter to zero. Moreover, the tax on petrol and aviation turbine fuel (ATF) remained zero as previously. However, the reasons behind the reduction in cylinder prices remain unclear.

Every month on the first day, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) adjust the prices of cooking gas. The price variations are based on the fuel’s cost and the prevailing market conditions.

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