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The price of domestic LPG used for cooking has been hiked by ₹29 per cylinder, the second time in the past three months, as state-owned fuel retailers face continued pressure from high global energy prices amid the West Asia crisis.
The latest revision comes after a ₹60-per-cylinder increase on March 7, which also came after the disruptions to global energy supplies and a rise in fuel prices caused by the conflict.
The increase in LPG prices is part of a wider round of fuel price revisions. Petrol and diesel rates have gone up by a cumulative ₹7.50 per litre since mid-May, while compressed natural gas (CNG) prices have risen by around ₹6 per kg.
Here are the latest rates, according to Goodreturns:
Commercial LPG cylinders, used by hotels, restaurants and other businesses, have witnessed multiple price increases over the past few months.
The most recent revision came on June 1, when the price of a 19-kg commercial LPG cylinder was raised by ₹42 to ₹3,113.
Earlier, commercial LPG prices were increased by ₹1,000 in May, ₹195.5 in April and ₹114.5 in March.
The latest hike in commercial LPG prices comes amid increasing global energy costs linked to the conflict involving the United States and Iran.
The disruptions to crude oil and LPG supplies from West Asia have resulted from the closure of the Strait of Hormuz, one of the world’s most important energy transit routes.
India imports more than 85 per cent of its crude oil requirements, leaving domestic fuel prices highly vulnerable to developments in international energy markets.
Any risk to energy supplies from the Gulf region generally pushes up global crude oil prices, which in turn affects the prices of petroleum products and LPG in India.
With inputs from agencies
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