The price of commercial liquefied petroleum gas was increased by Rs 195.5 on Wednesday amid a surge in global energy prices triggered by the conflict in West Asia, PTI reported.
In Delhi, a 19-kg commercial LPG cylinder is now priced at Rs 2,078.5.
The rates were last increased by Rs 114.5 per 19-kg cylinder on March 1, the news agency reported.
The rate of domestic cooking LPG, last increased by Rs 60 per 14.2-kg cylinder on March 7, remained unchanged. It costs Rs 913 per 14.2-kg cylinder in the national capital, PTI reported.
State-owned Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum revise the prices of Aviation Turbine Fuel and LPG on the first day of every month based on international benchmarks and the exchange rate.
Energy supplies to India have been disrupted since the conflict in West Asia broke out on February 28. Iran has effectively blocked the Strait of Hormuz, through which about 20% of global petroleum liquids supply passes, for most commercial ships.
This has affected LPG supplies in India. The country imports about 60% of its LPG demand, most of it from Gulf countries.
Global oil prices have also increased significantly since the disruptions. On Wednesday, the benchmark Brent crude fell to $105 per barrel from what was about $115 a day earlier. The price was $78 per barrel on February 27, a day before the conflict started.
The Union government has been appealing to consumers to switch to piped natural gas if it is available in their areas, so as to take some pressure off LPG supplies. It has also offered additional commercial LPG allocation to states if they undertake measures to ease the expansion of the PNG network.
On Sunday, the Union government made an ad hoc allocation of Public Distribution System kerosene to states and Union Territories for household use as a 60-day emergency measure to ease pressure on LPG. The kerosene can be used for cooking and lighting needs.
The allocation includes the 21 states and Union Territories that had previously been declared Public Distribution System Superior Kerosene Oil-free.
The conflict in West Asia began after Israel and the United States launched an attack on Iran on February 28, claiming that Tehran’s action posed an existential threat to Israel. Washington acts as a guarantor of Israel’s security. Iran has retaliated by striking Israel and US military bases in the region and targeting major cities in Gulf countries.
Israel has been claiming that Iran is close to obtaining a nuclear weapon, which could alter the regional security balance. Tehran has long maintained that its nuclear programme is for civilian purposes.
Also read:
- Why the LPG crisis is reviving pandemic fears among migrant workers
- India’s push for clean cooking fuel goes up in smoke
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