Oil marketing companies implement reductions across major cities, effective April 1, 2024
Consumers can breathe a sigh of relief as oil marketing companies (OMCs) announce a significant reduction in the prices of 19-kg commercial and 5 kg FTL (Free Trade LPG) cylinders, effective from April 1, 2024.
The decision brings down the price of a 19 kg commercial cylinder by ₹30.50, setting the new rate at ₹1764.50 in New Delhi. Additionally, the price of the 5 kg FTL cylinder sees a reduction of ₹7.50.
This move follows the previous announcement made on March 1, when OMCs had increased the prices of commercial liquefied petroleum gas (LPG) cylinders by ₹25. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) regularly revise cooking gas prices on the 1st of each month, with fluctuations typically influenced by changes in fuel costs and market dynamics.
The recent price adjustments come after consecutive hikes in February and March, with consumers experiencing notable increases in the prices of Indane LPG gas cylinders across all metro cities. However, the latest reduction offers a welcome respite, particularly after prices were slashed by ₹39.50 per 19-kg commercial cooking gas cylinder on the eve of New Year 2024.
