In a move that will bring cheers to restaurant owners and small businesses across India, oil marketing companies have announced a substantial reduction in the prices of commercial LPG cylinders. The price cut, effective from June 1, 2024, brings much-needed relief to businesses grappling with high operational costs.
Significant Savings for Businesses
The price reduction is substantial across all major metropolitan cities. In the national capital Delhi, the price has been reduced by ₹30.5, bringing the new rate to ₹1,750 per 19-kg commercial cylinder. Similar cuts have been implemented in other key business hubs.
New Commercial LPG Prices in Metro Cities
The revised pricing structure shows uniform reductions across most cities:
- Mumbai: Reduced by ₹30.5 to ₹1,721 per cylinder
- Kolkata: Down by ₹30.5 to ₹1,839.5 per cylinder
- Chennai: Decreased by ₹30.5 to ₹1,841.5 per cylinder
Impact on Restaurant and Hospitality Sector
This price cut comes as significant relief for the restaurant industry, which heavily relies on LPG for cooking operations. The reduction in fuel costs will help improve profit margins for eateries, catering services, and food businesses that have been facing inflationary pressures.
The commercial LPG sector serves as the backbone for numerous small and medium enterprises across the country. This price reduction is expected to provide some breathing space for business owners who have been dealing with rising input costs across the board.
Consistent Pricing Strategy
Notably, the price reduction maintains consistency across different regions, with most cities seeing the same ₹30.5 decrease. This uniform approach ensures balanced economic relief for businesses operating in different parts of the country.
The revision demonstrates the oil companies' responsiveness to market conditions and their commitment to supporting the business community during challenging economic times.
