By Admin 
Lpg cylinder price: The first date of June has brought news of relief for small and big restaurants, dhabas and hotels of the country. Oil companies have reduced the price of commercial LPG gas cylinder by Rs 24. Now a 19 kg commercial cylinder will be available in Delhi for Rs 1,723.50. These new prices will be applicable from June 1.
Commercial cylinders become cheaper for the second consecutive month
This is the second consecutive month when the price of commercial cylinders has been cut. Even in early May, companies cut Rs 14.50 per cylinder. This will directly affect services like hotel, restaurant and food industry, where this gas is used extensively.
Relief for aviation sector
Not only commercial gas, but the aviation turbine fuel (ATF) used for air flights has become cheaper. Its price has been reduced by Rs 4.4 per cent i.e. Rs 3,954.38 per kiloliter. Now the new price of ATF has increased to Rs 85,486.80 per kiloliter. This is a big relief for airlines like Air India and IndiGo, as 30 percent of their expenses are fuel.
ATF cheaper for the third consecutive time
This is the third consecutive cut in the prices of ATF. Earlier, on 1 April, there was a huge decline of Rs 5,870 per kiloliter. Earlier, at the beginning of the year, the prices of fuel increased, but now this continuous cuts are balanced them.
Why are the prices decreasing?
The biggest reason behind all these cuttings is the fall in the prices of global crude oil. In the international market, the price of Brent crude has reached close to $ 63 per barrel, which is the lowest since April 2021.
According to the IANS report, Saudi Arabia, the world’s largest oil -producing country, has indicated that it will not cut any more and is ready for a long time of low prices. This can also weaken the power of OPEC.
India will directly benefit
India imports about 85 percent of its needs. In such a situation, when the prices of global oil fall, India’s import bill is less. This reduces the current account deficit and strengthens the rupee. Not only this, due to the fall in oil prices, domestic prices of things like petrol, diesel and ATF also start to decrease, which also controls inflation.
Government increased excise duty, but no effect on general public
Recently, the government imposed extra excise duty on petrol and diesel. But this did not shock the common man, because government oil companies, Indian Oil, Bharat Petroleum and Hindustan Petroleum have decided to face it themselves. Petroleum Minister Hardeep Singh Puri said that due to the falling prices of global crude, companies can bear this burden.
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