New Delhi: Prices of commercial LPG were increased by Rs 195.50 on Wednesday, driven by a sharp rise in global oil prices linked to the escalating conflict in West Asia.
New Rates for Commercial Cylinders
Following the hike, a 19-kg commercial LPG cylinder is now priced at Rs 2,078.50 in Delhi, as per state-owned oil companies. This comes after a previous increase of Rs 114.50 per cylinder on March 1.
Domestic LPG Prices Remain Steady
In contrast, domestic cooking gas prices have not been revised. The rate for a 14.2-kg LPG cylinder continues to stand at Rs 913 in Delhi. The last change in domestic rates was a hike of Rs 60 per cylinder on March 7.
Monthly Price Revision Mechanism
State-run oil marketing companies, including Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum, revise LPG and ATF prices on the first day of every month. These revisions are based on international fuel benchmarks and currency exchange rates.
Impact of Global Oil Market Trends
Global crude oil prices have surged nearly 50 per cent due to disruptions in energy supply chains caused by the ongoing conflict in West Asia.
Petrol and Diesel Prices Unchanged
Meanwhile, petrol and diesel prices have remained stable since a Rs 2 per litre cut implemented in March last year. In Delhi, petrol is currently priced at Rs 94.72 per litre, while diesel costs Rs 87.62 per litre.