Oil companies reduced the prices of commercial and FTL cylinders, new prices will be applicable from today. Last month, oil companies had announced the increase in the prices of LPG cylinders. The price of 19 kg commercial cylinder was increased by Rs 25, after which its price increased to Rs 1795 per cylinder.
Oil companies have reduced the prices of 19 kg commercial cylinder and five kg FTL (Free Trade LPG) cylinder. Sources said that the price of 19 kg commercial cylinder has now been reduced by Rs 30.50. Its price in Delhi will be Rs 1764.50 from April 1. The price of five kg FTL has now reduced by Rs 7.50.
On March 1, oil companies had announced the increase in the prices of LPG cylinders. The price of 19 kg commercial cylinder was increased by Rs 25, after which its price increased to Rs 1795 per cylinder. Let us tell you that on February 1, the prices of Indane gas cylinders were different in the metro cities of Delhi, Kolkata, Mumbai and Chennai. An increase in Indane gas cylinder prices was seen in all metro cities since March 1.
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In March, the government had increased the windfall profit tax on domestically produced crude oil from Rs 3,300 per tonne to Rs 4,600 per tonne. This tax is levied in the form of Special Additional Excise Duty (SAED). According to the notification, the windfall profit tax on domestic crude oil was increased, but the tax on export of diesel was reduced from Rs 1.50 per liter to zero.
Apart from this, tax on petrol and aviation fuel (ATF) was kept zero as before. However, at present the reasons for reducing cylinder prices are not known.
Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) revise the prices of LPG on the 1st of every month. Prices fluctuate depending on fuel cost and market conditions.