LPG Price Hike: Ahead of the festive season, the prices of commercial LPG cylinders has been hiked from Thursday. The authorities informed that the price of a 19-kg cylinder in Delhi has been increased by Rs 62.50 to Rs 2,810, second such hike in the past two months. The latest hike is likely to add burden on the restaurants, hotels, caterers, and other businesses that use commercial cylinders.
Commercial Cylinders Get Costlier
Along with the national capital, the price has been increased in several other cities, including Mumbai, Kolkata, and Patna. While the fresh price of a commercial cylinder in Mumbai is Rs 2,764, the rate in Chennai has been increased to Rs 2,983. Apart from this, the price in Patna was increased by Rs 71.50 to Rs 3,100.50, the highest hike among the key cities.
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Second Hike In Recent Times
However, this is not the first major hike in the recent times as the prices of the commercial cylinders were also increased in September. The recent charges are likely to increase the operation cost of businesses dependent on the commercial cylinders, eventually leading to burden on the customers as well.
While the price of commercial cylinder was increased, the price of domestic LPG cylinders has not been revised, providing a major relief for the household consumers.
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.