Commercial LPG price
Analysts expect crude oil consumption to remain stable in 2025 at around 102.9 million barrels per day (mbpd), roughly the same as in 2024, because global economic growth is slow.

Guwahati: Oil marketing companies reduced the price of commercial LPG cylinders from Tuesday (today), lowering the cost of a 19 kg cylinder by Rs 58.50.

This price cut, which took effect from July 1, is expected to benefit commercial users such as hotels, restaurants, and various businesses.

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In Delhi, the revised retail price for a 19 kg commercial LPG cylinder now stands at Rs 1,665, down from the previous rate. However, prices for the 14.2 kg domestic LPG cylinders, primarily used in households, remain unchanged.

Other major cities also saw changes in commercial LPG cylinder prices. In Mumbai, sellers dropped the cost to Rs 1,616; in Kolkata, they set it at Rs 1,769; and in Chennai, they set the new price at Rs 1,823.50.

Meanwhile, petrol stations across the national capital have started displaying warnings informing customers that they will stop fueling End-of-Life Vehicles (ELVs) starting July 1, 2025. These notices specify that petrol pumps will refuse service to petrol vehicles older than 15 years and diesel vehicles older than 10 years.

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To ensure compliance with this new rule, several fuel stations have installed CCTV cameras and speakers to monitor activities and keep customers informed.

In another update, a recent research report by ICICI Bank on June 27 projects a decline in global crude oil prices. The report attributes this outlook to easing tensions in the Israel-Iran conflict, weak demand, and rising supply.

The report explains that ongoing trade war concerns could further suppress demand.

Analysts expect crude oil consumption to remain stable in 2025 at around 102.9 million barrels per day (mbpd), roughly the same as in 2024, because global economic growth is slow.

On the supply side, the report notes that crude oil production has increased sequentially, driven mainly by higher output from OPEC nations, while non-OPEC supply has stayed steady.

According to ICICI Bank, physical markets recorded a net supply surplus for the fifth month in a row, with a surplus of 1.6 mbpd in May, slightly lower than the 1.9 mbpd surplus seen in April.

Although demand rose by 0.3 mbpd to 102.6 mbpd in May, it still failed to match the supply of 104.2 mbpd, primarily fueled by increased OPEC production.

The report also highlighted that the Iran-Israel conflict caused price spikes significantly lower than those triggered by previous geopolitical crises like the Russia-Ukraine war, reflecting the current oversupply in the crude oil market.