(Representative photo)
LPG prices in India increase by Rs 50 per cylinder: LPG prices in India have increased by Rs 50 per 14.2-kg cylinder, marking the first hike in domestic LPG cylinder prices since July 2022. According to the Indian Oil Corporation (IOC), this price increase is effective from March 1, with domestic LPG cylinders now costing Rs 1,103 in Delhi, Rs 1,102.50 in Mumbai, Rs 1,129 in Kolkata, and Rs 1,118.50 in Chennai. Commercial LPG prices have also been hiked by Rs 350.50 per 19-kg cylinder in Delhi to Rs 2,119.50, with corresponding changes in other parts of the country.
The last time domestic LPG prices were revised was on July 6, 2022, due to the skyrocketing of global crude oil and fuel prices following Russia’s invasion of Ukraine. The Indian government subsequently provided a one-time special grant of Rs 22,000 crore to the three public sector OMCs – IOC, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation – to compensate for their losses on domestic LPG sales.
Unlike domestic LPG, commercial LPG prices are revised at regular intervals. The OMCs have not revised petrol and diesel prices since early April of last year. However, with global fuel prices having softened considerably, sources say that OMCs are now recouping the losses they suffered on the two fuels.
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