LPG Price Hike from August 1: New Rates for Commercial Cylinders Announced
Pune, 1st August 2024: Indian Oil Corporation Limited has announced new prices for LPG gas cylinders, effective from August 1. In Delhi, a 19-kilogram commercial gas cylinder will now cost Rs 1652.50, an increase of Rs 8.50 from the previous rate. This price hike marks the beginning of several changes in the cost of gas cylinders and other items this month. While commercial LPG prices have risen, domestic LPG gas cylinder prices remain unchanged.
Indian Oil Corporation Limited (IOCL) has updated the prices on its website. The new rate for a 19-kilogram commercial gas cylinder in Delhi is Rs 1652.50, up from Rs 1646. In Kolkata, the price has increased by Rs 8.50 to Rs 1764.50. Mumbai sees the new rate at Rs 1605, and in Chennai, it stands at Rs 1817. Last month, on July 1, the price of commercial LPG cylinders was reduced by Rs 30, following a reduction of Rs 69.50 in June and Rs 19 in May.
Despite the increase in commercial LPG prices, the cost of a 14-kilogram domestic LPG gas cylinder remains unchanged. In Delhi, a domestic LPG gas cylinder is sold at Rs 803, while in Mumbai, it is priced at Rs 802.50, and in Chennai, it is available for Rs 818.50. The last adjustment for domestic LPG gas cylinder prices was a reduction of Rs 100 on March 9, 2024.
Oil marketing companies review and adjust the prices of gas cylinders at the beginning of each month. This recent increase reflects the ongoing adjustments based on market conditions and other factors affecting the LPG sector.
The changes highlight the fluctuating nature of gas prices, impacting both commercial and domestic consumers. As the new rates take effect, consumers and businesses alike must adapt to the latest pricing structure implemented by the oil marketing companies.
