LPG Price: Oil companies reduced the prices of commercial and FTL cylinder, new prices will be applicable from today
LPG Price: Only last month, oil companies announced an increase in the prices of LPG cylinders. The price of a 19 kg commercial cylinder was increased by Rs 25, after which its price increased to Rs 1795 per cylinder.
Oil companies have reduced the prices of 19 kg commercial cylinders and five kg FTL (Free Trade LPG) cylinders. Sources said that the price of a 19 kg commercial cylinder has now been reduced by Rs 30.50. Its price in Delhi will be Rs 1764.50 from April 1. The price of five kg FTL has now been reduced by Rs 7.50.
On March 1, oil companies announced an increase in the prices of LPG cylinders. The price of a 19 kg commercial cylinder was increased by Rs 25, after which its price increased to Rs 1795 per cylinder. On February 1, the prices of Indane gas cylinders were different in the metro cities of Delhi, Kolkata, Mumbai and Chennai. An increase in Indane gas cylinder prices was seen in all metro cities since March 1.
The government raised the windfall profit tax on crude oil produced domestically in March from Rs 3,300 to Rs 4,600 per tonne. A Special Additional Excise Duty (SAED) is the tax imposed instead of this one. The notification states that while the tax on domestic crude oil windfall profits was raised, the tax on diesel exports was lowered from Rs 1.50 per litre to zero. Aside from this, the zero-percent tax on petrol and aviation fuel (ATF) was maintained. Currently, though, it is unknown why cylinder prices have decreased.
Every month on the first, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) adjust their LPG prices. Prices fluctuate depending on fuel cost and market conditions.
