Tue, Apr 16, 2024

Oil companies slash prices of 19 kg commercial and 5 kg FTL cylinders

Written by  Annesha Barua -- April 01st 2024 09:36 AM
Oil companies slash prices of 19 kg commercial and 5 kg FTL cylinders

Oil companies slash prices of 19 kg commercial and 5 kg FTL cylinders

PTC News Desk: In a move benefiting consumers, oil marketing companies have announced a reduction in the prices of 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders. Effective from this Monday, the prices have been decreased by Rs 30 for 19 kg commercial cylinders and Rs 7.50 for 5 kg FTL cylinders, according to sources cited by news agency ANI.

The new prices reflect a decrease of Rs 30.50 for a 19 kg commercial cylinder, bringing the price in Delhi to Rs 1764.50 as of April 1. Similarly, the price of the 5 kg FTL cylinder has been lowered by Rs 7.50.

This reduction comes on the heels of a previous announcement on March 1, when oil marketing companies had raised the prices of commercial liquefied petroleum gas (LPG) cylinders. The fluctuation in fuel costs and market dynamics prompted this revision.

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Earlier, on February 1, Indane gas cylinder prices had varied across metro cities, with Delhi, Kolkata, Mumbai, and Chennai each having distinct rates. However, March 1 saw a notable increase in prices across all metro cities. While the exact reasons behind the price decrease remain undisclosed, factors such as changes in international oil prices, shifts in taxation policies, and supply-demand dynamics likely play a role in such adjustments.

These consecutive revisions underscore the volatile nature of the energy market and its implications for households and businesses reliant on commercial LPG cylinders.

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(Inputs from agencies)



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