Households and businesses will continue paying the same price for LPG cylinders on June 24, as oil marketing companies (OMCs) kept both domestic and commercial cooking gas rates unchanged. The decision comes even as international crude oil prices have softened following recent progress in US-Iran peace negotiations.
The latest revision in domestic LPG rates came on June 7, when OMCs raised the price of a 14.2-kg household cylinder by ₹29. It was the second hike within three months, following an earlier increase of ₹60 on March 7. Since then, cooking gas prices have remained stable across major cities.
Domestic and commercial LPG rates across cities
Among major metros, a 14.2-kg domestic LPG cylinder is priced at ₹942 in Delhi, ₹941.50 in Mumbai, ₹968 in Kolkata and ₹957.50 in Chennai. Hyderabad continues to have one of the highest domestic cylinder rates at ₹994, while Patna consumers are paying ₹1,031.50 per cylinder.
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No change in domestic and commercial LPG rates after recent hike.
Commercial LPG users are also seeing no fresh changes in rates after the recent increase. A 19-kg commercial cylinder currently costs ₹3,113.50 in Delhi, ₹3,067.50 in Mumbai, ₹3,255.50 in Kolkata and ₹3,283 in Chennai. In Patna, the commercial cylinder price stands at ₹3,400.
Hormuz disruptions drove recent price pressure
The latest increase in commercial LPG rates followed rising energy costs and supply concerns linked to disruptions around the Strait of Hormuz, a key shipping route for global energy supplies.
Imports of LPG into India had dropped sharply during the period of tensions, falling to around 696,000 tonnes in April from nearly 2 million tonnes per month earlier. Commercial cylinder prices have risen by nearly 79% over the past four months, largely because these rates are linked to the Saudi Contract Price (CP), which is revised monthly by Saudi Aramco.
11 India-bound ships crossed Strait of Hormuz after US-Iran Deal
Providing an update on shipping movement, Ministry of External Affairs spokesperson Randhir Jaiswal said, "Since the signing of the MoU (Memorandum of Understanding) on June 17, 11 India bound vessels have transited through the Strait of Hormuz."
(Representational Image) India boosts LPG imports as cylinder prices hold steady across cities. /ANI
The vessels included three Indian-flagged crude oil tankers carrying more than 285,000 metric tonnes of crude oil each, one foreign-flagged LPG carrier, one foreign-flagged crude oil tanker and six foreign-flagged bulk carriers transporting fertilisers.
Jaiswal also noted that 10 Indian-flagged vessels remain in the Persian Gulf region, while two more have recently arrived there.
Can India reduce dependence on West Asia for LPG?
India has increased LPG purchases from alternative sources in recent months. According to a Reuters report, imports from the United States are expected to reach a record 1 million metric tonnes in June. Supplies from the United Arab Emirates have also recovered to around 300,000-400,000 tonnes, while about 45,000 tonnes are expected from Kuwait.
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However, experts believe West Asia will continue to play a crucial role in India's energy security.
LPG prices remain unchanged on June 24 /ANI
Speaking to ANI on the issue, Head of India Content at S&P Global Energy, Pulkit Agarwal, said, "Middle East continues to remain and today still is one of the most reliable and the only source of LPG which can supply the kind of LPG that India needs."
According to Agarwal, India explored alternative suppliers during the disruption, but those markets were unable to fully offset the reduction in supplies from West Asia because of physical and logistical limitations.
FAQs:
What is the LPG cylinder price in Kolkata today?
A 14.2-kg domestic LPG cylinder costs ₹968 in Kolkata, while a 19-kg commercial cylinder is priced at ₹3,255.50.
What is the LPG cylinder price in Delhi today?
In Delhi, a 14.2-kg domestic LPG cylinder is priced at ₹942, while a 19-kg commercial cylinder costs ₹3,113.50.
