Oil Marketing Companies (OMCs) have implemented a Rs 14 hike in the price of commercial LPG cylinders effective from February 1, 2024.
In New Delhi, a 19kg LPG cylinder will cost Rs 1769.50 up from Rs 1755.50. Similarly in Kolkata, Mumbai and Chennai have been adjusted to Rs 1887.00, Rs 1723.50 and Rs 1937.00 respectively.
Contrasting, the price of domestic LPG (14.2kg) remains unchanged at Rs 903 in Delhi, Rs 929 in Kolkata, Rs 902.50 in Mumbai and Rs 918.50 in Chennai. In addition to the LPG adjustment, OMCs have reduced the Aviation Turbine Fuel priced by approximately Rs 1221 per Kiloliter, marking the fourth consecutive cut. These changes are effective as of February 1, 2024.
The state owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) regularly revise cooking gas and ATF prices on the 1st of each month based on the average international price of the previous month.
The hike in commercial LPG prices precedes Thursday’s union budget, with commercial LPG cylinders becoming expensive. Meanwhile, domestic LPG prices remained constant since august 2023.
Over the past three years, commercial LPG rates have almost experienced monthly adjustments, while domestic LPG rates have been altered 17 times. The cost of a 19kg cylinder, as of January 1, 2021 was Rs 1349 with approximately 50 rate changes since then, according to Indian Oil Corporation (IOC).
