Commercial LPG price cut from today; check out latest prices with effect from May 1

Latest LPG price with effect from May 1: Oil marketing companies (OMCs) made commercial-use liquified petroleum gas (LPG) cheaper with effect from May 1, 2024. State-run Indian Oil Corporation (IOC), which supplies cooking gas across the country under the brand Indane, revised the price of cooking gas in the national capital by Rs 19 to Rs 1,745.5 per 19-kilogram cylinder, marking a second downward revision in about a month. LPG sold in 19-kg refills is meant for commercial use and hence impacts businesses such as hotels and restaurants.   

With effect from May 1, 2024, commercial LPG prices are revised to Rs 1,745.5 per cylinder in New Delhi, Rs 1,859 per cylinder in Kolkata, Rs 1,698.5 per cylinder in Mumbai, and Rs 1,911 per cylinder in Chennai, according to the Indian Oil Corp website, iocl.com.

Source: iocl.com

Prior to the latest revision, the commercial LPG prices in New Delhi, Kolkata, Mumbai and Chennai were at Rs 1,764.5 per cylinder, Rs 1,879 per cylinder, Rs 1,717.5 per cylinder and Rs 1,930 per cylinder, respectively. 

While the commercial LPG prices applicable in New Delhi, Mumbai and Chennai each were reduced by Rs 19 per 19-kg cylinder, the rate in Kolkata was lowered by Rs 20 per refill.    

Non-subsidised LPG rates unchanged

However, the prices of non-subsidised, domestic-use LPG refills were left unchanged at existing levels. Currently, Indane LPG is sold at Rs 803 per 14.2-kilogram in the national capital. It is sold at Rs 829 in Kolkata, Rs 802.5 per cylinder in Mumbai and Rs 818.5 per cylinder in Chennai. 

The government provides a subsidy on 12 LPG cylinders per household every year. The consumer has to purchase any additional refills at non-subsidised rates.  

Besides IOC, state-run oil marketing companies Bharat Petroleum Corporation and Hindustan Petroleum Corporation review their cooking gas prices regularly based on factors such as benchmark and foreign exchange rates. Cooking gas prices vary from state to state owing to the incidence of local taxes.