LPG: Will LPG Prices For 14.2Kg, 5 Kg, and 19K Cylinders be Revised Ahead Of Union Budget 2024?

India is awaiting the full-fledged Union Budget 2024 announcement by Finance Minister Nirmala Sitharaman in the third week of July month. Broadly, citizens are optimistic about the Budget with expectations of key reforms related to income tax, savings, investments, and borrowing. Amidst such, one wonders whether there could be a revision in LPG prices as well.

Just a few hours before FM Sitharaman could present the interim budget for 2024 in February, oil marketing companies had revised their LPG prices. In February, LPG prices were hiked by Rs 12 to Rs 18 for 19KG cylinders.

The interim budget was announced this year due to Lok Sabha Elections 2024. After PM Modi and his saffron party attained an hattrick victory, his ruling government will announce the full Budget for FY25 this month.

While the central government has boldly trimmed prices of LPG on key occasions. For instance, after OMCs hiked LPG prices, PM Narendra Modi decided to reduce LPG cylinder prices by a whopping Rs. 100 on March 8 as part of celebrations of Women's Day.

On March 8, while reducing LPG prices by Rs 100, PMO said, "By making cooking gas more affordable, we also aim to support the well-being of families and ensure a healthier environment. This is in line with our commitment to empowering women and ensuring 'Ease of Living' for them."

Notably, in 2024 so far, 19 kg LPG prices have seen significant changes, while 14.2 kg and 5 Kg cylinder prices have followed similar patterns but at a slower pace. The latest revision in LPG prices was announced at the start of July 2024.

On July 1, the Largest oil marketing company, Indian Oil Corporation revised its 14.2 kg cylinder prices for the first time since March 9, 2024. While the OMC reduced LPG prices of 19KG cylinders by Rs 30 to Rs 31 per cylinder in metro cities.

Here are the latest prices of LPG:

LPG Prices 14.2KG Cylinders:

LPG Price In Delhi: 14.2Kg per cylinder continues to be at Rs 803 with effect from July 1.

LPG Prices In Mumbai: In the financial hub of India, a 14.2 Kg cylinder is at Rs 802.50. This is the cheapest LPG price compared to Delhi, Kolkata, and Chennai.

LPG Price in Kolkata: Here, 14.2Kg LPG price is costliest compared to other four metro cities, at Rs 829 per cylinder.

LPG Price In Chennai: 14.2 kg in this southern city is available at Rs 818.50 per cylinder.

LPG Prices Of 19KG Cylinders:

In Delhi, 19 kg LPG price is cut by Rs 30 to Rs 1,646 per cylinder, compared to the previous price of Rs 1,676 per cylinder. Further, in Mumbai, LPG price is trimmed by Rs 31 to Rs 1,598 per cylinder, compared to Rs 1,629 per cylinder.

Meanwhile, in Kolkata, 19 kg LPG price is also reduced by Rs 31 to Rs 1,756 as against Rs 1,787 per cylinder.

LPG price in Chennai for 19KG is at Rs 1,809.50 per cylinder, which was also trimmed by Rs 31 from the earlier price of Rs 1,840.50 per cylinder. 19KG is the costliest in Chennai compared to other metro cities.

Earlier, in June 2024, Indian Oil trimmed the prices of LPG per cylinder in 19 Kg by Rs 69 to Rs 72 in the four metro cities.

Indane LPG is sold and delivered in seven different pack sizes. The 5 kg and 14.2 kg cylinders are largely meant for domestic use and comprise almost 90% of all gas distributed, while the 19 kg, 47.5 kg and 425 kg Jumbo cylinders are marketed for industrial and commercial consumption. The recently launched 5 kg and 10 kg cylinders made of fibre composite with a trendy and translucent look are the latest addition to the domestic category. Indane LPG is also supplied in bulk to large-volume consumers in the manufacturing and engineering sectors.

It will be keenly watched if the government has a surprise stored in for cooking gas prices.