March has arrived with a wave of festivals, including Holi, Doljatra, and Ramadan, but it also brings an unwelcome surprise for consumers. The LPG Cylinder Price has been hiked, putting additional financial strain on households and businesses. Starting March 1, state-owned oil marketing companies have increased the price of commercial LPG cylinders, affecting businesses across the country.
LPG Cylinder Price Hiked at the Start of March
Indian Oil Corporation (IOC) has announced a price increase for its 19 kg commercial LPG cylinder. As of March 1, the price has been raised by Rs 6, making the new cost Rs 1,797 per cylinder. This monthly revision by state-owned oil marketing companies impacts restaurants, hotels, and other businesses relying on commercial LPG. While domestic users have been spared this time, the rising LPG Cylinder Price may indirectly impact consumers due to higher food costs in eateries.
This price hike comes at a time when major festivals like Holi, Eid, and Doljatra are being celebrated across India. The increase in commercial LPG rates could affect businesses that depend on bulk gas usage, potentially leading to increased service charges in the hospitality industry.
City-Wise Breakdown of New LPG Cylinder Prices
The updated LPG Cylinder Price varies across major cities. Here’s a look at the revised rates:
- Delhi: Rs 1,803 (previously Rs 1,797)
- Kolkata: Rs 1,913
- Mumbai: Increased from Rs 1,749.50 to Rs 1,755.50
- Chennai: Rs 1,959
Despite the surge in commercial LPG rates, domestic LPG cylinder prices remain unchanged. However, the commercial LPG price hike may influence food prices in restaurants and hotels, impacting everyday consumers indirectly.
How Will This LPG Price Hike Affect Consumers?
While household budgets may not see an immediate impact, businesses, especially small eateries, cafes, and street vendors, will feel the pinch of the rising LPG Cylinder Price. The additional cost may be transferred to consumers, leading to increased prices for food and other services dependent on LPG.
With no relief in sight, consumers are advised to keep track of further revisions in LPG rates. While domestic LPG prices remain stable for now, fluctuations in global fuel prices and policy changes could lead to potential future adjustments.
Stay updated on the latest changes in LPG Cylinder Price and how they may affect your daily expenses.
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