New Delhi, Jul 1: Oil marketing companies on Wednesday reduced the price of commercial LPG cylinders by Rs 183.50 per 19-kg cylinder, marking the first cut in commercial cooking gas rates this year after a series of hikes triggered by the West Asia crisis.
Following the revision, a 19-kg commercial LPG cylinder will now cost Rs 2,930, down from the record high of Rs 3,113 per cylinder reached last month as tensions in West Asia fueled a sharp rise in crude oil prices.
The reduction comes after months of increases linked to energy supply disruptions caused by the regional conflict, which pushed commercial LPG prices to an all-time high.
Commercial LPG prices, primarily applicable to hotels and restaurants, are revised on the first day of every month based on the average benchmark rates recorded during the previous month.
Meanwhile, the price of the domestic 14.2-kg LPG cylinder remained unchanged at Rs 942. Domestic cooking gas prices were last revised on June 7, when they were increased by Rs 29. (Agencies)
