March Price Hike-Commercial LPG Gas Prices Jump by ₹25: Know The State wise Rates

State-run oil marketing companies (OMCs) have announced a fresh increase in the prices of commercial LPG gas cylinders, effective from March 1, 2024. The rates for 19 kg commercial cylinders have been raised by ₹25, marking the second consecutive hike in recent times.

LPG Price Hike Details:

• In Delhi, the retail price of a 19 kg commercial gas cylinder now stands at ₹1,795, reflecting the latest increase.

• Mumbai witnesses a surge as well, with the cost of a 19 kg cylinder reaching ₹1,749 from today.

• In Chennai and Kolkata, the prices have soared to ₹1,960 and ₹1,911, respectively, for the same category of cylinders.

Recent Trends:

• This marks the second consecutive increase in the cost of commercial gas cylinders. On February 1, the rates were raised by ₹14.

• Last month, in February, the price of a 19 kg gas cylinder stood at ₹1,769.50 in Delhi, ₹1,723 in Mumbai, ₹1,887 in Kolkata, and ₹1,937 in Chennai.

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Historical Perspective:

Back in December 2023, oil companies had previously raised commercial gas cylinder rates by ₹21 across various locations in the country.

However, on the eve of New Year 2024, prices saw a notable reduction as the cost of 19 kg commercial cooking gas was slashed by ₹39.50 per cylinder.

LPG Statewise Rates:

Delhi: ₹1,795

Mumbai: ₹1,749

Kolkata: ₹1,911

Chennai: ₹1,960.50

Chandigarh: ₹1,816

Bengaluru: ₹1,875

Indore: ₹1,901

Amritsar: ₹1,895

Jaipur: ₹1,818

Ahmedabad: ₹1,816

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Domestic Cylinder Prices Remain Stable:

On the other hand, the prices of household gas cylinders have stayed the same. In Delhi, a 14.2 kg LPG cylinder remains priced at ₹903, while in Kolkata it's ₹929, in Mumbai, it's ₹902.50, and in Chennai, it's ₹918.50.

Price Revision Mechanism:

Cooking gas prices, regulated by Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), undergo revision on the 1st of each month, determined by the average international price from the prior month. With the latest price hike in commercial LPG gas cylinders, consumers are likely to feel the pinch, especially in regions where the rates have seen a significant surge. The stability in domestic cylinder prices offers some respite amidst the ongoing fluctuations in fuel costs.

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