The price of 19 kg commercial LPG cylinders have been increased by Rs 39 from Sunday, September 1. The latest move by oil marketing companies (OMCs) has raised the price to Rs 1,691.50 in the national capital.
The price hike, which is part of a monthly revision, is expected to affect restaurants and hotels which are in turn likely to pass on the burden on consumers. The OMCs -- Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise the price of cooking gas at the beginning of every month.
However, this comes after price of commercial LPG being decreased by Rs 142.5 in the current financial year. On August 1, the price was slighly hiked by Rs 6.5 while the four previous months saw reduction in price.
On July 1, the price of commercial LPG was reduced by Rs 30 with the 19kg cylinder in Delhi bringing down the price to Rs 1,646. On June 1, the price was cut by Rs 69.50 and on May 1, it was slashed by Rs 19. On April 1, the price was reduced by Rs 30.50.
OMCs take into account tweaks in international oil prices, tax norms and supply-demand factors while revising prices every month.