Domestic LPG prices hiked by Rs 29 for 14.2-kg cylinders

The price of domestic liquefied petroleum gas was increased by Rs 29 per cylinder, in what was the second increase in three months, PTI reported.

A 14.2-kg LPG cylinder in Delhi will be priced at Rs 942 per cylinder from Sunday, as against Rs 913 earlier.

On March 7, the prices of domestic LPG cylinders were increased by Rs 60 per cylinder, as the war in West Asia led to elevated global energy costs.

Despite this, state-run marketing companies were estimated to have been losing Rs 703 on every cylinder before the latest revision, PTI quoted unidentified sources as saying.

The price of crude oil in international markets influences domestic LPG costs by affecting fuel costs and shaping supply decisions across energy markets.

The rate hike in domestic LPG comes amid a series of fuel price increases.

On June 1, Indian Oil Corporation, the country’s largest state-run refiner and fuel retailer, raised the price of a 19-kg commercial liquefied petroleum gas cylinder by Rs 42, bringing its cost in Delhi to Rs 3,113.5.

Petrol and diesel rates have been increased by a total of Rs 7.50 per litre since mid-May, while the prices of compressed natural gas have been increased by Rs 6 per kg.

India imports 88% of its crude oil needs and about half of its natural gas requirement. This mostly comes through the Strait of Hormuz, which has been effectively blocked due to the conflict in West Asia.

Edited by Neerad Pandharipande.