Public sector undertaking oil marketing companies have brought down the price of commercial 19 kg liquefied petroleum gas cylinders. This reduction comes into effect from Thursday, September 1.
The reduction ranges from ₹96 to ₹108 a bottle across the country. In Chennai, the price has been cut by ₹96 from ₹2,141 to ₹2,045. Oil marketing companies usually revise prices on the first of every month. A distributor said they hoped that domestic LPG prices would be brought down soon. “It would bring much-needed relief to consumers, who have been hit hard by rise in petrol and diesel prices,“ he said.
However, prices are yet to be brought down to last September’s level when it cost ₹1,831 a cylinder in Chennai. Prices have been coming down since May 1 when it was ₹2,508 a bottle in the city.
Oil industry sources said that in Tamil Nadu, the sale of commercial cylinders, which fell by 21.1% during the pandemic in 2020-21, has improved and the year 2021-22 registered a growth of 21.3%. This year, non-domestic sales increased by 29.7% for the period April-July 2022.
Plea of hoteliers
M. Ravi of the Chennai Hotels Association said the reduction was welcome but the price had to be brought down.
”We don’t have input credit and have to spend 18% additionally. They have only brought down the quantum they pushed up. Sweet shops have input credit and they pay 5% only as GST but not so for restaurants. We need a similar tax structure for restaurants as well. For idly and dosa, there is no input credit, but those who make sweets have it,” he said.
