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LPG Gas Price Cut: On April 1, 2024, oil marketing companies announced a price reduction for both 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders. This decision aims to provide relief to consumers amid changing market dynamics.

LPG Price Cut: Check Latest RatesThe price adjustment involves a decrease in the cost of a 19 kg commercial cylinder by Rs 30.50. As a result, the new price for this cylinder stands at Rs 1764.50 in Delhi, effective from April 1. Additionally, the price of the 5 kg FTL cylinder has been revised downward by Rs 7.50.

This reduction in prices comes as welcome news for commercial establishments and households utilizing these cylinders for various purposes. The decrease in the cost of these essential commodities may alleviate some financial burden on consumers, particularly amid economic uncertainties and rising expenses.

The decision to lower prices for commercial and FTL cylinders reflects a proactive response from oil marketing companies to changing market conditions. By adjusting prices in accordance with prevailing factors, these companies aim to maintain the affordability and accessibility of LPG cylinders for consumers across the country.

Amidst fluctuating global oil prices and economic fluctuations, ensuring affordability and accessibility of essential commodities like LPG cylinders remains a key priority for oil marketing companies. This price reduction demonstrates their commitment to addressing consumer needs and promoting financial well-being.

Natural Gas Price Cut Earlier on Sunday, the government has announced a slash on the price of natural gas extracted from challenging areas such as the deep-sea KG-D6 block operated by Reliance Industries ahead of Lok Sabha Elections. The new price, set at USD 9.87 per million British thermal units (mmBtu), reflects the softening of benchmark international gas prices. However, this adjustment does not affect the price of gas used for producing CNG for automobiles or for household kitchen piping, as these rates are capped at 30 per cent below market rates.

Starting from today, the price for gas extracted from deep-sea and high-pressure, high-temperature (HPTP) areas has been reduced from USD 9.96 to USD 9.87 per mmBtu for six months, as reported by the oil ministry's Petroleum Planning and Analysis Cell (PPAC). This marks the third successive bi-annual decrease in rates for challenging fields, with the previous rate slashed by 18 per cent from USD 12.12 to USD 9.96 per mmBtu from April to September 2023.

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