Great news for businesses! The nation’s oil marketing companies (OMCs) have announced a reduction in the prices of LPG gas. The cost of a 19 kg commercial LPG cylinder has been slashed by ₹69.50. This price adjustment takes effect from today. It’s important to note that the prices of domestic LPG cylinders remain unchanged.
Relief for the Aviation Sector
Airline companies are also set to benefit from these price cuts. The reduction in aviation fuel costs could lead to cheaper air travel during this hot summer season.
OMCs have reduced the price of aviation turbine fuel (ATF) by ₹6673.87 per kiloliter, effective immediately. This follows a series of price changes in recent months. In May, ATF prices rose by ₹749.25 per kiloliter, whereas April saw a reduction of approximately ₹502.91 per kiloliter. March experienced a price increase of ₹624.37 per kiloliter.
Government Reduces Windfall Tax on Crude Petroleum
In addition to these reductions, the government has eased the financial burden by lowering the windfall tax on crude petroleum. The Special Additional Excise Duty (SAED) has been decreased from ₹5700 per ton to ₹5200 per ton. This adjustment has been in effect since June 1, 2024.
These measures collectively aim to provide significant financial relief to businesses and consumers alike, reflecting the government’s efforts to support economic stability and growth.
