State run oil marketing companies -- Indian Oil Corp. Ltd, Bharat Petroleum Corp Ltd. and Hindustan Petroleum Corp. Ltd. -- have raised the price of 19-kg Liquefied Petroleum Gas cylinders by Rs 39, effective from today.
The retail sales price of commercial cylinder in Delhi is now Rs 1,691.50. The price hike could be related to the increase in price of Indian crude oil basket and increase in natural gas prices globally.
However, it should be noted that the price of commercial gas cylinders was getting slashed since May this year largely on account of decline in the crude oil prices.
The price of LPG is directly linked to the crude oil prices. The other reason for cut in commercial LPG prices was general elections, and broader economic conditions both domestically and globally.
Earlier on July 1, the OMCs had cut the price of commercial cylinders by Rs 30 to Rs 1,646 in a bid to offer relief to the business and commercial firms.
In June the price was price was slashed by Rs 69.50 to Rs 1,676 and in May the price was cut by Rs 19 per cylinder.
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