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LPG Price Cut: The oil marketing companies have announced a reduction in the prices of commercial LPG cylinders in a significant move. Starting today, the price of a 19 kg commercial LPG cylinder in Delhi has been reduced by Rs 69.50, bringing the new retail price to Rs 1676.

This reduction follows an earlier price cut on May 1, 2024, when the rate for a 19 kg commercial LPG cylinder was decreased by Rs 19. The consecutive reductions are a welcome relief for businesses facing high operating costs amidst economic challenges, reported news agency ANI.

The adjustment in LPG prices comes at the beginning of the new month, a regular practice in the industry. The government continues to run various schemes to promote the use of LPG for cooking in homes. One such scheme is the Pradhan Mantri Ujjwala Yojana, which provides subsidies to eligible families, encouraging the use of cleaner fuel.

The consistent price cuts are seen as a positive development for commercial enterprises, providing much-needed financial relief.

Oil marketing companies lowered the cost of commercial LPG gas cylinders by Rs 19 per unit with immediate effect one month ago on May 1. In Delhi at the time, a 19 kilogram commercial LPG cylinder cost Rs 1745.50 at retail, as per ANI. The prices are decided depending on multiple factors including variations in the price of oil globally, modifications to tax laws, and changes in supply and demand, probably play a role. Liquefied petroleum gas (LPG) cylinder revisions for both residential and commercial use usually take place on the first of the month.