In a major development in India amid the war in West Asia, the state-owned oil companies announced a significant hike in the price of 19-kg commercial cylinders and 5-kg mini cylinders on Wednesday. Prices for 5-kg mini cylinders have risen by Rs 51, while 19-kg commercial cylinders saw a steeper hike, ranging from Rs 195 to Rs 218.
After the revision of rates, the price of a 19-kg commercial LPG cylinder now stands at Rs 2,078.50 and Rs 2,031 in Delhi and Mumbai, respectively. Both cities witnessed a surge of Rs 195.5. In Kolkata and Chennai, the prices witnessed a steeper rise of Rs 218 and 203, respectively, bringing the new rates to Rs 2,208 and 2,246.
The surge is directly linked to the widening conflict in West Asia, which has severely destabilised international energy supply chains. Since the outbreak of the war, global oil prices have climbed by 50%, largely driven by the closure of the Strait of Hormuz—a critical, conflict-torn energy corridor.
This disruption in the supply chain, coupled with the hike in oil prices, compelled the state-owned companies to revise the rates of commercial LPG cylinders in India.
While the hike impacts the commercial sector—including hotels, restaurants, and industries—domestic consumers have been spared for the time being. Rates for 14.2-kg domestic cooking gas cylinders remain unchanged at Rs 913 in the national capital, following a Rs 60 increase implemented on March 7.
Major oil companies, including Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL), revise these rates on the first of every month, factoring in international benchmarks and currency exchange rates.
In contrast to the turbulent LPG market, petrol and diesel prices remain frozen across the country. In Delhi, petrol continues to retail at Rs 94.72 per litre, while diesel is priced at Rs 87.62. These fuel rates have seen no movement since a Rs 2 per-litre reduction was announced in March of last year.
Article source: indiatoday.in
