Commercial LPG Prices Surge: What You Need to Know About the Latest Hike
Significant Increase in Commercial LPG Prices
New Delhi: On Friday, the cost of commercial LPG saw an unprecedented increase of Rs 993 for a 19-kg cylinder, marking the third consecutive monthly rise attributed to escalating global energy prices amid the ongoing conflict in West Asia.
The new price for a 19-kg commercial LPG cylinder, commonly utilized by businesses like hotels and restaurants, has reached an all-time high of Rs 3,071.5 in Delhi, up from the previous rate of Rs 2,078.50.
The last adjustment occurred on April 1, when prices were raised by Rs 195.50 per cylinder. Earlier, on March 1, there was an increase of Rs 114.5.
In total, commercial LPG prices have surged by Rs 1,303 over these three hikes.
Conversely, the price of domestic cooking gas LPG, used in households, has remained stable. The last increase for domestic LPG was Rs 60 for a 14.2-kg cylinder on March 7, bringing the cost to Rs 913 in Delhi.
State-owned companies such as Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum adjust the prices of ATF and LPG on the first day of each month, based on international market trends and currency exchange rates.
The surge in global oil prices, which have risen nearly 50% due to the conflict in West Asia disrupting energy supply chains, has significantly impacted these adjustments.
Meanwhile, petrol and diesel prices have remained unchanged since a reduction of Rs 2 per litre in March of the previous year; currently, petrol is priced at Rs 94.72 per litre in Delhi, while diesel costs Rs 87.62.