Mumbai: In a move to provide relief to commercial consumers, state-owned oil marketing companies announced a significant reduction in the prices of commercial LPG cylinders. Effective from June 1, 2023, the rates of commercial cylinders have been slashed by Rs 83.50.
Kolkata will witness a reduction in the rate of commercial LPG cylinders to Rs 1,875.50, down from Rs 1,960.50. Similarly, in Mumbai, the revised retail price of commercial cylinders will be Rs 1,725, a decrease from Rs 1,808.50. Chennai, another prominent city, will experience a price drop to Rs 1,937, as compared to the earlier price of Rs 2,021.50.
It is important to note that there has been no change in the prices of domestic LPG cylinders, which are widely used by households across the country. The rates of 14.2 kg domestic LPG cylinders currently stand at Rs 1,003 in Delhi, Rs 1,029 in Kolkata, Rs 1,002.5 in Mumbai, and Rs 1,018.5 in Chennai.
As per the regular practice, the prices of commercial and domestic LPG cylinders are revised on the first day of every month to accommodate fluctuations in the global oil market and ensure fair pricing for consumers.
This reduction in the rates of commercial LPG cylinders will likely benefit various commercial establishments, including restaurants, hotels, and industries that rely on LPG for their operations. The decision aims to support businesses and reduce their operating costs, thereby contributing to the country's overall economic growth.
The state-owned oil marketing companies have taken this step to pass on the benefits of falling international oil prices to commercial consumers. The decrease in prices reflects a commitment to providing affordable energy solutions for businesses, encouraging growth and stability in various sectors.