CHENNAI: CHENNAI: State-backed oil companies have slashed the price of a commercial LPG gas cylinder by Rs 31 in Chennai. The move is expected to provide relief to businesses and commercialenterprises.
Starting today, July 1, the price of a 19 kg commercial LPG gas cylinder will be at Rs 1,809.50 in Chennai.
In Mumbai, a 19 kg commercial cylinder costs Rs 1,598 while it is priced at Rs 1,756 in Kolkata.
Meanwhile, the domestic cylinder price remains stable with a 14 kg cylinder being sold for Rs 818.50 in Chennai.
Regular revisions of LPG rates at the start of every months reflect international oil prices, broader economic conditions and the market, amidst other factors.
Monday's price cut follows a series of reductions over the past few months. On June 1, the rate of a 19 kg commercial LPG cylinder was reduced by Rs 69.50 in Delhi, bringing the retail sales price down to Rs 1,676. Prior to that, on May 1, there was a reduction of Rs 19 per cylinder.
As businesses, especially those in the food and hospitality sectors, heavily rely on commercial LPG cylinders for their operations, the price cuts provide some much-needed financial relief, helping them manage their operating costs better.
Additionally, the government has been proactive in promoting the use of LPG cylinders for cooking in homes 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.
(With ANI inputs)