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Why LPG Cylinder Prices Can Change Soon More Frequently

Why LPG Cylinder Prices Can Change Soon More Frequently

The new year is approaching and many things will change. This may also include how to price LPG cylinders. As far as the price of your cooking gas is concerned, you may find that you are paying different prices each week. It seems that consumers are moving towards shortening the pricing period they have to pay.

In December, the price of LPG cylinders was revised on the 1st and 16th. It is based on the average rate of benchmark international fuel and forex rates for the previous two weeks. However, according to DNA, oil companies are currently planning to change prices on a weekly basis. Today, consumers are already accustomed to daily revisions to gasoline and diesel prices, and certainly it doesn’t matter that the price of LPG cylinders changes much more often. However, please note that no formal decision has been made on this.

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The reason is to make the process much more efficient, as was previously done with gasoline and fuel prices. To better explain the daily fluctuations in petroleum product prices, oil companies are currently planning to change prices on a weekly basis. In this way, oil companies can better average prices and avoid facing the outlook for current losses.

Oil companies announce gasoline and diesel prices daily at 6am.

Currently, the price of an LPG gas cylinder that consumers pay for an unsubsidized 14.2 kg gas cylinder in Delhi and Mumbai is Rs 694. In Kolkata it is 720.50 rupees. In Chennai it is 710 rupees. The price increase for LPG gas cylinders began on December 15, according to Indian Oil Corporation. The price of the 5kg cylinder also rose by 18 Renault, and the price of the 19kg cylinder also rose by 36.50 Renault. Each household is allowed to purchase up to 12 LPG cylinders per year for a subsidized fee.

Many of the disappointments of the common people were that oil companies raised the price of cooking gas by as much as 100 rupees in December.



Why LPG Cylinder Prices Can Change Soon More Frequently

https://www.zeebiz.com/personal-finance/news-why-your-lpg-cylinder-prices-may-change-much-more-frequently-soon-144493 Why LPG Cylinder Prices Can Change Soon More Frequently

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