New Delhi, Feb 1 (IANS): In a move set to impact the hospitality and commercial sectors, oil marketing companies have reduced the price of 19 kg commercial LPG cylinders by Rs 7, effective immediately.

The revision comes just ahead of the Union Budget presentation, scheduled for 11 AM in Parliament.

Following this reduction, the cost of a 19 kg commercial LPG cylinder in Delhi has dropped from Rs 1,809 to Rs 1,797. However, there has been no revision in the price of 14 kg domestic LPG cylinders.

In other major cities, the previous rates stood at Rs 1,756 in Mumbai, Rs 1,911 in Kolkata and Rs 1,966 in Chennai.

Commercial LPG cylinders are widely used in businesses such as hotels and restaurants, making the price cut significant for the hospitality sector. The revised rates are part of a broader pattern of fuel price adjustments influenced by fluctuating global market conditions.

Oil companies frequently alter LPG prices based on changes in crude oil rates and other economic factors.

Last December, oil companies had hiked the price of a 19 kg commercial LPG cylinder by Rs 62, reflecting global trends in fuel pricing. LPG prices vary across states due to differences in local taxes and transportation costs.

This latest revision follows a similar price cut on January 1, when commercial LPG cylinder prices were reduced by Rs 14.5 after five consecutive hikes.

At that time, the price in Delhi stood at Rs 1,804 per cylinder. Meanwhile, Aviation Turbine Fuel (ATF) prices also saw a 1.5 per cent reduction, bringing the cost down by Rs 1,401.37 per kilolitre to Rs 90,455.47 per kilolitre in Delhi.

With fuel prices continuing to be subject to global market fluctuations, further adjustments in LPG and other fuel rates remain a possibility in the coming months.