LPG Prices Remain Stable Amid Global Disruptions; Commercial Rates Increase
LPG gas cylinder price hike: Check latest fuel prices in New Delhi, Mumbai, Chennai, Kolkata on 2 May
Mint
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On May 2, the Indian government opted to keep domestic LPG prices unchanged despite global disruptions, while commercial LPG prices surged by an average of ₹993. The government is implementing measures to prevent hoarding and black marketing while ensuring steady supply amidst geopolitical tensions.
- 01Domestic LPG prices remain unchanged despite global pressures.
- 02Commercial LPG prices have increased significantly, with Delhi seeing a rise to ₹3,071.50.
- 03The government is taking steps to prevent hoarding and black marketing.
- 04Robust supply of domestic LPG is assured, with no shortages reported.
- 05Alternative fuels are being promoted to ease LPG demand.
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On May 2, 2023, the Indian government announced that domestic liquefied petroleum gas (LPG) prices would remain unchanged despite pressures from global disruptions, particularly due to the ongoing conflict in Iran. However, the price of commercial LPG (19 kg cylinders) has increased by an average of ₹993, with rates in Delhi rising from ₹2,078.50 to ₹3,071.50 and in Mumbai from ₹2,031 to ₹3,024. The Ministry of Petroleum and Natural Gas confirmed that retail prices for petrol, diesel, and domestic LPG (14.2 kg cylinders) would remain stable, assuring citizens that supply is steady. The government emphasized the importance of avoiding panic buying, stating that measures are in place to ensure availability. Notably, around 49.8 lakh domestic LPG cylinders were delivered on April 30, 2023, against bookings of 41.6 lakh. Additionally, enforcement actions against black marketing have intensified, with over 2,300 raids conducted and penalties imposed on 342 LPG distributorships. The government is also promoting alternative fuels to mitigate demand pressure on LPG.
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The stability of domestic LPG prices will benefit households, while the increase in commercial LPG prices may affect businesses relying on gas for operations.
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