Commercial LPG cylinder prices reduced by Rs 83.5; check latest rates in cities

State-owned oil marketing companies have implemented a reduction in the rates of commercial cylinders by Rs 83.5, effective from today, 1 June. To provide specific examples, in Delhi, the price of a commercial liquefied petroleum gas (LPG) cylinder has come down from Rs 1856.5 to Rs 1773. In Kolkata, the price has been decreased to Rs 1,875.5 from its previous value of Rs 1,960.5. In Mumbai, the new retail price is Rs 1,725, down from Rs 1,808.5, and in Chennai, the price has been reduced to Rs 1,937 from its earlier value of Rs 2,021.5. Nevertheless, there have been no alterations observed in the prices of domestic cylinders. In Delhi, the price of a 14.2 kg domestic LPG cylinder is Rs 1,003, while in Kolkata it is priced at Rs 1,029. In Mumbai, the cost is Rs 1,002.5, and in Chennai, it is Rs 1,018.5. It’s important to note that the rates of commercial and domestic LPG cylinders undergo revision on the first day of each month. In the previous month, petroleum and oil marketing companies reduced the cost of commercial LPG cylinders by Rs 171.5. In April, there was also a reduction of Rs 91.5 per unit in the prices of LPG cylinders. Earlier, on 1 March this year, petroleum and oil marketing companies had increased the prices of commercial LPG cylinders by Rs 350.5 per unit and domestic LPG cylinders by Rs 50 per unit. The prices of commercial cylinders were reduced on 1 September 2022 by Rs 91.5. Additionally, on 1 August 2022, the prices of commercial LPG cylinders were reduced by Rs 36. Earlier, on 6 July of the same year, the rates of the 19-kilogram commercial cylinder underwent a decrease of Rs 8.5 per unit. In the meantime, early on Thursday, the oil prices experienced a decline for the third consecutive session. This came after data revealed an unexpected and substantial increase in US crude inventories last week, leading to concerns about oversupply alongside indications of weaker Chinese demand. According to Reuters, Brent crude futures for August delivery dropped by 40 cents, or 0.6 per cent, reaching $72.2 per barrel at 0023 GMT. Simultaneously, US West Texas Intermediate crude (WTI) saw a decrease of 39 cents, or 0.6 per cent, settling at $67.7 per barrel. Read all the Latest News, Trending News, Cricket News, Bollywood News, India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.