Inflation Shock on the First Day of the Financial Year: Commercial LPG Prices Hiked by ₹195.5
Crude oil prices have surged due to the conflict in the Middle East, causing the price of a commercial LPG cylinder to rise by ₹195.50, reaching ₹2,078.50.
The ongoing conflict in the Middle East is now having a direct impact on the common man's pocket. Driven by a sharp rise in international crude oil prices, state-run oil companies have announced a steep hike of ₹195.50 in the price of commercial LPG cylinders. These new rates, effective from Wednesday, have heightened concerns among traders and restaurant operators.
According to state-run oil companies, the price of a 19-kilogram commercial LPG cylinder in Delhi has now risen to ₹2,078.50.
Prior to this, on March 1, the price of the 19-kilogram cylinder had been hiked by ₹114.50.
'50 Percent Surge in Prices...'
The hike in commercial gas rates does not affect the prices of LPG used for cooking in households. Domestic cooking gas (LPG) prices—which last saw an increase of ₹60 for a 14.2-kilogram cylinder on March 7—remain unchanged. In Delhi, the price of a 14.2-kilogram cylinder stands at ₹913.
State-run oil companies—such as Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum—revise the prices of ATF (Aviation Turbine Fuel) and LPG on the first day of every month, based on international benchmarks and exchange rates.
Global oil prices have surged by approximately 50 percent following disruptions to the energy supply chain caused by the conflict in West Asia.
Summary
Since the ₹2 per liter reduction in petrol and diesel prices in March of last year, their rates have remained stable. Currently, the price of petrol in Delhi is ₹94.72 per liter, and the price of diesel is ₹87.62 per liter.