Commercial LPG cylinder price cut by ₹183.50; Nayara reduces fuel prices

Mumbai: Oil marketing companies have reduced the price of 19 kg commercial LPG cylinders by ₹183.50 with effect from July 1, offering relief to hotels, restaurants and other commercial users. However, there has been no change in the price of domestic LPG cylinders.

With the latest revision, a 19 kg commercial LPG cylinder will now cost around ₹2,930, down from over ₹3,100. The price had been increased sharply last month following supply concerns triggered by the conflict in West Asia.

State-run oil marketing companies have however kept household LPG prices unchanged. In June, Indian Oil Corporation had raised the price of commercial cylinders amid a supply squeeze linked to the West Asia crisis.

Meanwhile, private fuel retailer Nayara Energy has announced a reduction in petrol and diesel prices across its network. The company has reduced petrol prices by ₹5 per litre and diesel prices by ₹3 per litre, reversing part of the steep hike it had introduced during the fuel supply disruption caused by the West Asia conflict. At the time, Nayara had increased fuel prices by up to ₹10 per litre.

The revised prices have come into effect at more than 7,000 Nayara fuel stations across the country. In Delhi, petrol now costs ₹105.71 per litre, while diesel is priced at ₹94.31 per litre at Nayara outlets.

This is the first fuel price cut by an oil marketing company in India in nearly two years. The company attributed the reduction to easing tensions in West Asia and the decline in international crude oil prices. Final retail fuel prices vary across states depending on local taxes, including VAT.

State-owned oil marketing companies, including Indian Oil Corporation, Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), have not announced any changes to petrol and diesel prices.