By Admin 
- Hormuz supply increased, crude oil prices decreased.
LPG Price Today on July 7: Today, there has been no change in the prices of 14.2 kg domestic LPG across the country. However, on July 1, the price of 19 kg commercial gas cylinder was drastically reduced by Rs 183.50. Due to the war between America and Iran and tension in West Asia, its price had crossed 3100. At the same time, the last cut in the prices of domestic gas cylinders used by the general public was made in June. During that time the rates were reduced to Rs 29. Since then the prices have remained stable.
City wise LPG prices
| City | domestic cylinder price | commercial cylinder price |
| Delhi | Rs 942.0 | Rs 2930.0 |
| Mumbai | Rs 941.5 | Rs 2885.5 |
| Kolkata | Rs 968.0 | Rs 3082.0 |
| Chennai | Rs 957.5 | Rs 3106.0 |
| Noida | Rs 939.50 | Rs 2917.0 |
| Dehradun | Rs 961.0 | Rs 2983.5 |
| Hyderabad | Rs 934.0 | Rs 2052.5 |
| Goa Panaji | Rs 956.0 | Rs 3006.5 |
| Thiruvananthapuram | Rs 951.0 | Rs 2970.5 |
Saudi Arabia made a big announcement
Saudi Arabia has started selling crude oil at lower prices to its buyers in Asia because global supply has increased due to the normalization of the situation in the Strait of Hormuz and competition among sellers has also increased.
Quoting the price list released on Monday, Bloomberg said in its report, Saudi Arabia’s state oil company Saudi Aramco will cut the price of ‘Arab Light’ oil by $ 11 per barrel for the next month. This price will be $1.50 less than the regional benchmark. This is the first time since 2000 that such a huge reduction in prices has been made in a single month.
Companies compete to sell oil
After the 60-day interim agreement between America and Iran, the supply of oil through the Strait of Hormuz has increased. Due to this, amidst increasing pressure on the oil market, producers are forced to reduce their prices. If crude oil prices remain at such low levels in the international market for a long time, then it is possible that domestic oil companies may also reduce the prices of 14.2 kg cylinders in August.
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