SRINAGAR: In a relief for hotels, restaurants and other commercial establishments, oil marketing companies on Wednesday reduced the price of commercial LPG cylinders by Rs 183.50, marking the first cut in commercial cooking gas rates this year.
Following the revision, a 19-kg commercial LPG cylinder will now cost Rs 2,930, down from last month’s record-high price of Rs 3,113.
The reduction comes after a series of steep increases triggered by the West Asia conflict, which had disrupted global energy supplies and pushed crude oil prices higher. The previous month’s price had reached an all-time high for commercial LPG.
Oil companies revise commercial LPG prices on the first day of every month based on the average international benchmark prices and other market factors from the preceding month.
Meanwhile, there has been no change in the price of domestic LPG used by households. The 14.2-kg domestic cylinder continues to retail at Rs 942. Household LPG prices were last revised on June 7, when they were increased by Rs 29.
