LPG Cylinder Price Slashed by Rs 200 in Delhi; Check Latest Rates
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In a favorable turn of events for consumers, the price of the 14.2 kg LPG cylinder in Delhi has been reduced by a significant Rs 200. This change comes into effect from today, August 30, 2023, marking the third instance of a price reduction within the past month. Delving into the details of this development, we explore the reasons behind the price cut and provide an overview of the current LPG rates.
Understanding the Price Cut
The latest price for a 14.2 kg LPG cylinder in Delhi stands at Rs 853. This marks a considerable decrease from the previous rate of Rs 1053, showcasing a substantial Rs 200 reduction. This downward revision of prices reflects the authorities’ efforts to pass on the benefits of the sustained decline in international crude oil prices to the consumers.
Influence of Crude Oil Prices
The decision to reduce LPG cylinder prices is primarily a response to the continuous downtrend in international crude oil prices. The benchmark Brent crude oil, which reached a high of $123 per barrel in June 2022, is currently trading around $100 per barrel. This decline has created a conducive environment for such reductions in domestic LPG prices.
Steady Subsidy Scheme
To further alleviate the burden on domestic LPG consumers, the government introduced a subsidy of Rs 200 per cylinder in July 2022. This subsidy remains in effect, serving as a relief mechanism for households amidst fluctuating oil prices.
Consumer Relief Amidst Rising Fuel Costs
The reduction in LPG cylinder prices is a welcome respite for consumers, especially in the backdrop of escalating fuel prices in recent months. However, the longevity of this price cut remains uncertain, given the volatile nature of international crude oil markets. It’s crucial for consumers to be aware that global factors can swiftly impact the trajectory of prices.
LPG Cylinder Prices in Different Cities:
| City | 14.2 kg LPG Cylinder Price |
|---|---|
| Delhi | Rs 853 |
| Mumbai | Rs 869 |
| Chennai | Rs 879 |
| Kolkata | Rs 879 |
| Ahmedabad | Rs 865 |
| Hyderabad | Rs 872 |
| Bangalore | Rs 870 |
| Lucknow | Rs 855 |
| Patna | Rs 865 |
| Jaipur | Rs 865 |
In conclusion, the recent price reduction of LPG cylinders brings relief to consumers grappling with escalating fuel costs. While this reduction is a positive step, the susceptibility of global crude oil prices to change emphasizes the need for consumers to stay informed about fluctuations in fuel rates.
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