(HBL)
State-backed oil marketing companies (OMCs) slashed the prices of commercial 19 kg LPG cylinders by Rs 19 per cylinder with effect from Wednesday. With the latest revision in commercial LPG cylinder prices, a 19 kg cylinder now costs Rs 1,745.50 versus Rs 1,764.50 as of last month in the national capital. Commercial cylinder prices were slashed by Rs 19 in Mumbai as well.
A 19 kg cylinder will now cost Rs 1,698.50 in Mumbai, down from Rs 1,717.50 last month. A commercial 19 kg cylinder would now cost Rs 1,911 in Chennai. In Kolkata, however, the prices of a commercial cylinder were revised downwards by Rs 20. With the latest revision in prices, a 19 kg LPG cylinder now costs Rs 1,859 in Kolkata.
The reduction in LPG cylinder prices comes on the back of the fall in global oil prices, against which domestic fuel prices are benchmarked, for the third consecutive day on Wednesday. The fall in oil prices can be attributed to rising crude inventories in the US and the increasing hopes of a ceasefire agreement in the Middle East.
