The price of commercial LPG gas cylinder has been increased ₹195.5 amid global oil supply concerns and a surge in prices, multiple reports said on Wednesday. Now the price of 19 kg commercial LPG cylinder will be this much ₹Rs 2,078.50 in Delhi, news agencies reported citing state oil companies.
Meanwhile, domestic LPG cylinder prices remained unchanged after the last revision on March 7, days after the Iran-US war broke out, leading to a rise in global oil prices.
Domestic LPG rates were last increased in ₹60 per 14.2 kg cylinder and currently ₹According to the news agency, per 14.2 kg cylinder in Delhi is Rs 913. PTI.
State-owned Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum revise ATF and LPG prices on the first day of every month based on international benchmarks and exchange rates.
The energy crisis in many parts of the world, including India, has been caused by the blockade of the Strait of Hormuz, a major waterway through which 20% of the world’s crude oil passes. Even though some Indian-flagged ships have transited the strait, the overall movement of ships has been affected, leading to a rise in oil prices.
Amid the current crisis, India is encouraging people to opt for PNG (piped natural gas) instead of LPG. Unlike LPG, PNG is distributed through a fixed pipeline network, relying heavily on imports shipped from the Middle East.