- Domestic LPG cylinder prices have been increased by Rs 29.
- 14.2-kilogram domestic LPG cylinder in Delhi now costs Rs 942.
- Previously, in March, domestic LPG cylinder prices were raised by Rs 60.
LPG Price Hike: Domestic cooking gas consumers across India have once again been hit by inflation. Domestic LPG cylinder prices have been increased by Rs 29 per cylinder. The new rates are effective immediately. Following this increase, the price of a 14.2-kilogram domestic LPG cylinder in Delhi has risen to Rs 942.
Oil marketing companies said they were continuously incurring losses on domestic gas sales due to high international crude oil and fuel prices, necessitating the price revision.
City-Wise Domestic LPG Cylinder Rates
After the increase in the rates of domestic cylinders, the prices have become different in different cities.
The price of a 14.2 kg cylinder has increased from Rs 913 to Rs 942 in Delhi.
The price of a 14.2 kg cylinder has increased from Rs 939 to Rs 968 in Kolkata.
The price of a 14.2 kg cylinder increased from Rs 912.50 to Rs 941.50 in Mumbai.
The price of a 14.2 kg cylinder increased from Rs 928.50 to Rs 957.50 in Chennai.
Why Were Price Of Domestic LPG Cylinder Increased?
According to industry sources cited by news agency PTI, state-owned oil companies have long been selling domestic LPG cylinders below cost, resulting in significant financial losses. It is estimated that before the recent price hike, the companies were losing approximately Rs 703 per domestic cylinder.
Previously, in March, domestic LPG cylinder prices were raised by Rs 60. At that time, increased tensions and conflict in West Asia impacted the global energy market, leading to a surge in crude oil and gas prices. However, even the March price hike did not fully offset the losses suffered by oil companies.
Impact Of International Market
Global energy prices have been volatile for the past few months. High crude oil and other fuel prices have increased pressure on India's oil marketing companies. This increase in domestic LPG prices is seen as an attempt by companies to mitigate their losses.
However, industry experts said that even with the current increase, companies are selling domestic gas below full cost. This means that prices may see further changes in the future depending on international market conditions