The Oil Marketing Companies (OMCs) on Tuesday, October 01, 2024 hiked 19 kg LPG cylinder prices by Rs 48.50 ahead of the festive season. Because of which, the commercial cylinders will now cost Rs 1,740 in New Delhi, Rs 1,692.50 in Mumbai, Rs 1850.50 in Kolkata and Rs 1903 in Chennai.
This is the third straight month that the OMCs, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have hiked 19 kg commercial cylinder prices. In last three months, the cooking gas cylinder prices have become costlier by Rs 94 in the country.
Restaurant Food To Become Costlier!
Hike in commercial cylinder prices may force restaurant owners to hike food item prices. So, eating out may become further costlier. This is a fresh jolt to common man ahead of the upcoming festive season.
Albeit, if we compare 19 kg cylinder prices from six month ago levels, then, despite of OMCs hiking prices in last three months straight, the commercial cylinders remain cheaper by minimum of Rs 50.
While, on the other hand, the price of 14.2 kg cooking cylinder prices used by households has not been hiked in the country and remains at Rs 803 (New Delhi). State-owned OMCs revise cooking gas prices on the 1st of every month based on the average international price in the preceding month.
Petrol And Diesel Prices Today
Petrol and diesel prices on the other hand continued to remain frozen since March 2024. As on October 01, 2024, petrol costs Rs 94.72 per litre in the national capital, and diesel comes for Rs 87.62 per litre. State-owned fuel retailers are supposed to revise petrol and diesel prices daily, based on a 15-day rolling average of benchmark international fuel prices. In last six months, global oil benchmark Bent Crude prices have reduced by around 25%.
