High prices for domestic liquefied petroleum gas used for cooking $$29 per cylinder, the second time in the past three months that state-owned fuel retailers have faced continued pressure from rising global energy prices amid the West Asia crisis.
The last review comes after a $An increase of 60 per cylinder on March 7, which also came after global energy supply disruptions and rising fuel prices due to the conflict.
The increase in LPG prices is part of a broader round of fuel price revisions. Petrol and diesel prices have risen cumulatively $7.50 per liter since mid-May, while CNG prices have risen by about $6 per kilogram.
Latest city wise prices of domestic LPG
Here are the latest prices, according to Goodreturns:
Commercial LPG prices
Commercial LPG cylinders, used by hotels, restaurants and other businesses, have seen multiple price increases over the past few months.
The last revision came on June 1, when the price of a 19kg commercial LPG cylinder was raised by 1. $42 l $3,113.
Earlier, commercial LPG prices rose by $1000 in May $195.5 in April and $114.5 in March.
West Asian conflict and the global energy crisis
The recent rise in commercial LPG prices comes amid increasing global energy costs linked to the conflict between the United States and Iran.
The disruption of crude oil and liquefied petroleum gas supplies from West Asia was a result of the closure of the Strait of Hormuz, one of the world’s most important energy transit routes.
India imports more than 85 percent of its crude oil needs, making domestic fuel prices highly vulnerable to developments in international energy markets.
Any threat to energy supplies from the Gulf region generally leads to a rise in global crude oil prices, which in turn affects the prices of petroleum products and LPG in India.
With input from agencies
