Domestic LPG price rises to Rs 913 after Rs 60 hike

metro india news  I new delhi

Domestic cooking gas prices were increased by Rs 60 per cylinder on Saturday, pushing the cost of a 14.2-kg LPG cylinder in Delhi to Rs 913 from the earlier Rs 853. The hike comes amid a sharp surge in global energy prices following the escalating crisis in West Asia.

According to Indian Oil Corporation data, the revised price came into effect on March 7. This is the second increase in domestic LPG prices in less than a year. The previous hike of Rs 50 per cylinder was implemented in April last year.

Beneficiaries of the Pradhan Mantri Ujjwala Yojana will also face the same increase. However, they will continue to receive a subsidy of Rs 300 per cylinder for up to 12 refills annually, bringing the effective price for them to Rs 613 per cylinder.

Commercial LPG used by hotels, restaurants and other establishments has also become costlier. The price of a 19-kg commercial cylinder was raised by Rs 114.50 and now stands at Rs 1,883 in Delhi. This follows another increase of Rs 28 implemented on March 1, taking the total rise in commercial LPG rates this year to Rs 302.50.

Industry officials said the price revision is linked to the steep rise in global oil and gas prices after the recent escalation in West Asia disrupted tanker movement through the Strait of Hormuz, a key route for energy shipments.

Global crude prices have surged sharply since the conflict began, with Brent crude settling near USD 92.7 per barrel and US crude crossing USD 90. LNG spot prices in Asia have also climbed to about USD 25.4 per MMBtu.