State-backed oil marketing companies (OMCs) reduced the price of commercial 19 kg LPG cylinders by Rs 19 per cylinder, effective Wednesday.
According to the most recent change in commercial LPG cylinder prices, a 19 kg cylinder now costs Rs 1,745.50 in the national capital, up from Rs 1,764.50 last month. Commercial cylinder prices were reduced by Rs 19 in Mumbai as well. A 19 kg cylinder currently costs Rs 1,698.50 in Mumbai, down from Rs 1,717.50 the previous month.
A commercial 19 kilogram cylinder will now cost Rs 1,911 in Chennai. In Kolkata, however, the price of a commercial cylinder was reduced by Rs 20. With the most recent price hike, a 19 kilogram LPG cylinder now costs Rs 1,859 in Kolkata.
LPG cylinder prices fell for the third straight day on Wednesday, following a drop in global oil prices, which are used to benchmark domestic fuel prices. The drop in oil prices can be ascribed to expanding petroleum inventories in the United States and growing optimism about a Middle East peace agreement.
Brent LCOc1 oil futures for July slipped 47 cents, or 0.5%, to $85.86 a barrel at 0005 GMT. US West Texas Intermediate crude for June CLc1 fell 53 cents, or 0.6%, to $81.40 a barrel, according to Reuters.
