Overview

• Oil marketing companies have cut the price of a 19-kg commercial LPG cylinder by Rs 58.50 from July 1, lowering the Delhi rate to Rs 1,665 and applying similar cuts in Mumbai, Kolkata and Chennai.
• This reduction is the fourth consecutive monthly cut following Rs 41 in April, Rs 14.50 in May and Rs 24 in June.
• The price of the 14.2-kg domestic LPG cylinder has been held steady since a Rs 50 hike on April 7.
• The cuts aim to ease input costs for hotels, restaurants and small businesses that rely heavily on commercial LPG.
• A drop in India’s average crude import basket to $64.50 per barrel in May has underpinned the ongoing commercial price reductions.