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Prices for 19kg commercial cylinders and 5kg Free Trade LPG (FTL) cylinders have been reduced, effective from April 1, 2024, according to a report by ANI. This price cut comes ahead of the Lok Sabha elections 2024, which will be held in seven phases from April 19 to June 1.
In Delhi, the price of a 19kg commercial cylinder has been reduced by Rs 30.50 to Rs 1,764.50. The price of the 5kg FTL, or market-priced cooking gas cylinder, has been lowered by Rs 7.50.
This marks the first reduction in commercial LPG prices since January. In February, rates increased by Rs 14 per cylinder and by Rs 25.5 in March.
Cooking gas used in domestic households, however, has remained unchanged at Rs 803 per 14.2kg cylinder.
Additionally, the price of jet fuel or aviation turbine fuel (ATF) has witnessed a marginal cut of 0.5 per cent.
In Delhi, the price of ATF has been reduced to Rs 100,893.63 per kilolitre, while in Mumbai, prices have been reduced to Rs 94,466.41 per kilolitre from Rs 94,809.22.
State-owned entities such as Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) regularly adjust prices of ATF and cooking gas on the 1st of every month, based on the average price of benchmark international fuel and foreign exchange rates.
Prices can fluctuate depending on shifts in fuel costs and market dynamics. The precise reason behind the price changes and the decrease witnessed in April remains undisclosed. However, fuel prices may be affected by several factors, such changes in international oil prices, taxation policies, and supply-demand dynamics.
