Commercial LPG Cylinder price cut by Rs.172.50

Oil marketing companies have reduced the price of commercial LPG cylinders across the country with effect from Tuesday, providing relief to hotels, restaurants and other commercial establishments.
According to the revised rates, the price of a 19-kg commercial LPG cylinder in Chennai has been reduced by Rs.172.50, bringing the retail price down to Rs.3,106. The revised prices came into effect from July 1.
However, there has been no change in the price of the 14.2-kg domestic LPG cylinder. In Chennai, the domestic cylinder will continue to be sold at Rs.957.50.
Commercial LPG prices had witnessed successive increases over the past four months following a surge in global crude oil and gas prices. The increase was triggered by geopolitical tensions in West Asia, including disruptions to energy supplies and shipping through the Strait of Hormuz, a key route for global crude oil and liquefied natural gas transportation.
The easing of shipping movement through the Strait of Hormuz and improved stability in international energy markets have contributed to the latest reduction in commercial LPG prices. This is the first price cut for commercial cylinders after four consecutive revisions, while domestic LPG consumers will have to wait for any relief as household cylinder prices remain unchanged.