New Delhi: Prices of commercial LPG, the one used in hotels and restaurants, were cut by Rs 183.50 per 19-kg cylinder on Wednesday -- the first reduction in rates this year.

Commercial LPG now costs Rs 2,930 per 19-kg cylinder, oil companies said.

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Commercial LPG rates hit an all-time high of Rs 3,113 per 19-kg cylinder last month as the West Asia crisis fueled a spike in crude oil prices.

This is the first reduction in commercial cooking gas rates this year following a series of hikes in the wake of the West Asia crisis that caused energy supply disruptions across the globe.

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Commercial LPG rates are revised on the 1st of every month based on average benchmark rates in the previous month.

However, the price of domestic 14.2-kg LPG cylinders remained unchanged at Rs 942. Its rates were last hiked by Rs 29 on June 7.

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