Price of commercial LPG slashed by ₹200; jet fuel rates up by ₹5
In Mumbai, a commercial LPG cylinder costs ₹2,691.50 (₹194 less), and in Chennai, it costs ₹2,906 (₹200 less). Among the major metros, Kolkata saw the steepest fall of ₹209. It is now priced at ₹2,872.50.Sagar Daryani, president, National Restaurant Association of India, welcomed the price cut. “It brings some relief to the industry, especially to small and independent restaurants that continue to operate on thin margins,” he told The Hindu.
Prashant Vashisht, senior vice-president at ratings agency ICRA, said under-recoveries on LPG continue to exist, although diversifying sources of procurement have helped ease some of the pressure.
“Before the war, we were getting a sizeable proportion of LPG supplies from one region [the Gulf]. Since then, we have figured out alternative sources,” Mr. Vashisht told The Hindu. “Under-recoveries continue to exist although the pressure on supplies would not be the same as at the onset of the crisis,” he added.
With the latest revision, the price of the 19-kg cylinder meant for commercial and industrial consumers has declined by about ₹380 per cylinder across two tranches. The price of FTL has also cumulatively been reduced by about ₹60 per cylinder across the two tranches.
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