LPG cylinder cost cut ahead of elections

LPG prices to be cheaper in Delhi, effective April 1

Oil marketing companies on Monday announced that the prices of LPG cylinders would be reduced in Delhi, effective April 1 this year.

The price of the 19-kg commercial cylinder is being slashed by Rs 30.50, which means the cylinder will now be available at Rs 1764.50. The 5-kg FTL (Free Trade LPG) cylinder, on the other hand, will be cheaper by Rs 7.50, according to reports.

Earlier, on February 1 this year, the government-owned LPG manufacturing subsidiary Indane had hiked the price of gas cylinders across the metropolitan cities, with Delhi, Mumbai, Kolkata and Chennai selling at diverse rates. This was followed by oil marketing companies increasing prices of commercial LPG (Liquefied Petroleum Gas) cylinders across all metro cities on March 1.

The latest cut in fuel prices follows the decision of the Ministry of Petroleum last month to bring down petrol and diesel rates all over the country by Rs 2 per litre March 15 onwards. Announcing the petrol and diesel price cut back in mid-March, Minister of Petroleum and Natural Gas Hardeep Singh Puri had lauded Prime Minister Narendra Modi’s leadership that had helped maintain stability in fuel prices in spite of surging trends worldwide.

Rise and fall in oil and fuel prices primarily happen owing to various domestic and international market trends that includes demand and supply, fluctuating global oil rates as well as alteration in taxation policies as well. Industry watchers feel the frequent turmoil in LPG merely highlights the element of unpredictability that defines the energy space.