Commercial LPG cylinder prices have been raised by ₹195.5, according to reports on Wednesday, reflecting rising global oil supply concerns. Following the revision, the price of a 19-kg commercial LPG cylinder in Delhi will be ₹2,078.50, according to state-run oil firms.
Similar or even higher increases have been seen in other metropolitan cities. In Mumbai, for instance, the price will be ₹2,031 after an increase of ₹195.5. In Kolkata, the price was increased even more, to ₹218, making it ₹2,208. In Chennai, it was increased by ₹205, taking it to ₹2,246.
Domestic LPG prices remain unchanged
While the hike will certainly have an impact on commercial users, domestic LPG users have been left untouched this time around. The price of 14.2 kg domestic LPG cylinders remains unchanged at ₹913 per cylinder. The last revision was made on March 7, where prices were hiked by ₹60 per cylinder.
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The latest revision has been prompted by issues in global energy supply chains. The current tensions in West Asia, particularly between Iran and the US, have had a major impact on oil movement. The major factor has been the blocking of the Strait of Hormuz, an important route through which 20 per cent of the world’s crude oil supply passes.
Though some Indian vessels have been able to cross through, movement has been slowed, causing oil prices to soar. It has been reported that crude oil prices have risen by 50 per cent since the beginning of the conflict.
The hike in commercial LPG prices will have an impact on sectors such as hospitality, food, and small industries, where LPG cylinders form a major part. The current trend, however, is towards PNG, or Piped Natural Gas, which comes through domestic pipelines and does not involve imports.
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Fuel prices remain steady
Meanwhile, petrol and diesel prices remain unchanged despite fluctuations in LPG prices. The price of petrol remains steady at ₹94.72 per litre, while diesel remains steady at ₹87.62 per liter in Delhi.
The prices have remained steady since a ₹2 per litre reduction in March last year.
State oil companies revise LPG and aviation turbine fuel prices on the first day of every month, depending on international prices and exchange rates.
