Cooking gas prices have increased in various major cities across India. Currently, a 14.2-kg LPG cylinder in Delhi is priced at ₹913 as of March 17, which is a hike of ₹60 in just a month.

This increase in cooking gas prices comes after a hike due to supply disruptions caused by ongoing tensions in West Asia, especially around the Strait of Hormuz, a strategic waterway that handles a significant volume of oil shipments across the world. Disruptions in the movement of ships in this corridor have impacted the supply of LPG.

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Under current rates, a domestic LPG cylinder that was priced at ₹853 a month ago has increased to ₹913 in Delhi.

Apart from this, in other major cities of India, such as Mumbai, Kolkata, and Chennai, the price of a 14.2-kg LPG gas cylinder is Rs 912.50, Rs 939, and Rs 928.50, respectively. Moreover, in Bengaluru, the domestic gas cylinder is currently priced at Rs 915.50, while in Hyderabad, Lucknow, and Patna, there has been a rise in the gas cylinder prices.

Supply disruptions ripple across sectors

Industry experts say that due to the current geopolitical scenario in the Middle East, the prices of crude oil have risen globally, which has a cascading impact on the overall LPG prices. Volatility in energy prices is now affecting industries that require cooking gas.

There are instances of establishments in the hospitality industry facing operational challenges due to an increase in LPG prices, which has resulted in some food establishments temporarily closing down their operations, as reported in the document.

However, it has been asserted that there is no shortage of cooking gas in the country.

Navy escorts and government measures

Amid the supply concerns, the Indian Navy has deployed two task forces of warships to ensure the safe movement of merchant vessels and tankers transporting crude oil and gas through the Strait of Hormuz, according to a report by news agency ANI.

This has been compounded by issues related to seized oil tankers. Earlier, India seized three oil tankers namely Stellar Ruby, Asphalt Star, and Al Jafzia, for alleged illegal ship-to-ship transfers.

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However, the Centre has directed oil refineries to produce more LPG and has taken measures to prevent hoarding. It has also implemented a first-in-first-out system for maintaining a balance in oil distribution in the country.

Special measures have been taken to ensure that essential services such as hospitals, educational institutions, restaurants, and dairies continue to receive commercial LPG cylinders in coordination with oil marketing companies, as released by the Centre, as stated in the document.