OGRA has announced a significant price reduction in LPG for November 2023, providing relief to consumers amid economic considerations. The domestic cylinder price is now Rs. 2,962, down from Rs. 3,080, and the commercial cylinder is priced at Rs. 11,397, a reduction from Rs. 11,849.
Latest News, the Oil and Gas Regulatory Authority (OGRA) has issued a notification detailing a noteworthy reduction in the price of Liquefied Petroleum Gas (LPG) for the month of November 2023.
Here is a table comparing the old and new prices of LPG.
| LPG Type | Old Price (Rs./kg) | New Price (Rs./kg) | Change |
|---|---|---|---|
| Domestic | 261 | 251 | -10 |
| Commercial | 11,849 | 11,397 | -452 |
Key Points:
Price Reduction Details:
OGRA’s notification signifies a substantial reduction of Rs. 10 per kilogram in the price of LPG. This decision aims to alleviate financial burdens on consumers and comes as a welcome relief amid economic considerations.
Revised Cylinder Prices:
According to the notification, the revised prices post-reduction are as follows:
Domestic LPG cylinder: Reduced to Rs. 117
Commercial LPG cylinder: Decreased to Rs. 452
Consumer Impact:
Following this adjustment, consumers can now purchase LPG at Rs. 251 per kilogram instead of the previous Rs. 261. The domestic cylinder cost is now Rs. 2,962, down from Rs. 3,080, and the commercial cylinder is priced at Rs. 11,397, a reduction from Rs. 11,849.
Official Production Price Cut:
OGRA has also announced a reduction of Rs. 8,437 per metric ton in the official production price of LPG, providing additional context to the overall decrease in consumer prices.
Market Dynamics:
The reduction in LPG prices is attributed to the controlled value of the dollar, leading to a favorable impact on domestic prices. However, it’s noteworthy that international markets have experienced an opposing trend, witnessing an increase in LPG rates.
Conclusion: OGRA Announces Significant LPG Price Reduction for November 2023:
This significant reduction in LPG prices by OGRA reflects a proactive measure to address economic considerations and provide relief to consumers. As the country navigates economic challenges, such measures contribute to easing the financial burden on households. The adjustment in LPG rates aligns with ongoing efforts to maintain a balance between domestic economic factors and international market dynamics.