LPG Cylinder Prices Surge Amid Global Oil Volatility: April 19 Update
LPG cylinder price on 19 April: Domestic and commercial gas rates in Delhi, Bengaluru, Mumbai, Kolkata today
Mint
Image: Mint
On April 19, LPG cylinder prices in India rose due to global oil price fluctuations. Domestic LPG prices increased by ₹60, while commercial LPG saw a ₹195 hike. The ongoing conflict in the Middle East has disrupted gas supplies, affecting India's imports, which rely heavily on the Strait of Hormuz.
- 01Domestic LPG prices increased by ₹60 to reflect global oil volatility.
- 02Commercial LPG prices surged by ₹195 for 19 kg cylinders.
- 03India imports approximately 60% of its LPG needs, with 90% passing through the Strait of Hormuz.
- 04The Indian government is promoting Piped Natural Gas (PNG) to mitigate supply issues.
- 05Recent tensions in the Strait of Hormuz have raised concerns for maritime safety and gas supply.
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On April 19, domestic LPG cylinder prices in India experienced a ₹60 increase, while 19 kg commercial LPG cylinders saw a substantial rise of ₹195. This surge is attributed to fluctuations in global oil prices and ongoing geopolitical tensions in the Middle East, which have disrupted gas supplies. India, as the world's second-largest buyer of liquefied petroleum gas, imports about 60% of its LPG, with 90% of these imports navigating through the strategically vital Strait of Hormuz. Recent incidents involving Iranian forces have heightened concerns over maritime safety, prompting India to summon the Iranian ambassador to address these issues. The Indian government is also encouraging the use of Piped Natural Gas (PNG) to reduce reliance on imported LPG and enhance infrastructure development.
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The rise in LPG prices could lead to increased household expenses for consumers relying on domestic gas for cooking, potentially affecting overall living costs.
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