CHENNAI: The price of commercial LPG gas cylinders in Chennai saw a significant increase of Rs 48 on Tuesday.
From today, a 19 kg commercial LPG gas cylinder will be sold at Rs 1,903 in the city. However, the price of a 14-kilogram domestic LPG gas cylinder remains unchanged at Rs 818.50.
While the price had increased by Rs 38 last month, the price has again shot up this month
Regular revisions of LPG rates typically occur at the start of every month, reflecting international oil prices, domestic tax policies, broader economic conditions and the market, amidst other factors.
In line with this, State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) adjust cooking gas prices on the 1st of every month.
The price hike is likely to have an impact on the various industries that rely on LPG for their operations from small scale manufacturers to restaurants, who in turn may need to redo their operational costs.
Additionally, the government has proactively promoted the use of LPG cylinders for home cooking through various schemes such as the Pradhan Mantri Ujjwala Yojana. It provides subsidies to eligible families, encouraging the adoption of cleaner cooking fuels and improving living standards.