The price of domestic LPG has been hiked by ₹29 per cylinder, the second time in three months as global energy supply remained affected over West Asia crisis.
The price of an LPG cylinder in Delhi has now been raised to ₹942 from ₹913, PTI news agency cited industry sources as saying. The revised price comes into effect from Sunday, June 7.
Earlier in March, the prices of cooking gas was hiked by ₹60 per cylinder in Delhi after the global energy prices were hit by the US-Iran war.
What’s behind fresh LPG price hike?
The hike in the price of domestic LPG cylinders even as the government has hiked the prices of petrol, diesel, aviation turbine fuel, commercial LPG cylinder and LPG over constrained global supply.
Industry sources told PTI that the increase in domestic LPG prices had only partly offset losses incurred on cooking gas sales. The LPG price hike comes amid a broader round of fuel price increases.
State-run oil marketing companies are losing roughly ₹703 on every LPG cylinder sold before the latest revision, the sources told the news agency.
Commercial LPG sees biggest hike
The price of commercial LPG cylinders used by hotels, restaurants and other businesses have seen repeated hikes in recent months. The latest hike in commercial LPG was on June 1, when the prices were raised by ₹42 per 19-kg cylinder to ₹3,113.
Before that, the prices were hiked by ₹1,000 in May, ₹195.5 in April and by ₹114.5 in March.
Article source: hindustantimes.com
