Commercial LPG rate cut by Rs 39.50 per 19-kg cylinder

Commercial LPG rate cut by Rs 39.50 per 19-kg cylinder

New Delhi, Dec 22: Commercial cooking gas (LPG) prices were on Friday cut by Rs 39.50 per 19-kg cylinder in line with softening international benchmarks.

However, the price of domestic LPG — used in household kitchens for cooking purposes — remained unchanged at Rs 903 per 14.2-kg cylinder.

Commercial LPG — used in various establishments such as hotels and restaurants — will now cost Rs 1,757 per 19-kg cylinder in the national capital as against Rs 1,796.50, oil firms said in a price notification.

State-owned oil firms last hiked the price of commercial LPG by Rs 21 on December 1.

Commercial LPG will now cost Rs 1,710 per 19-kg cylinder in Mumbai, Rs 1,868.50 in Kolkata, and Rs 1,929 in Chennai.

Rates differ from state to state based on incidence of local taxation.

Saudi contract price (CP), the benchmark used for pricing of LPG, has softened in the last few weeks’ oversupply concerns.

State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise cooking gas and ATF prices on the 1st of every month, based on the average international price in the previous month. The revision on Friday is an outlier.

Petrol and diesel prices continued to remain on freeze for a record 21st month in a row.

Petrol costs Rs 96.72 per litre in the national capital, and diesel comes for Rs 89.62 per litre.–(PTI)