LPG Cylinder Prices Remain Steady Amid Rising Global Costs
What LPG cylinder costs on 16 May: Domestic vs commercial rates in Delhi, Mumbai, Bengaluru
Mint
Image: Mint
As of May 16, 2023, domestic LPG cylinder prices in major Indian cities like Delhi, Mumbai, Kolkata, and Chennai remain unchanged, with costs at ₹913 and ₹912.50 respectively. However, commercial LPG prices have surged past ₹3,000 in Delhi, impacting businesses and prompting some to consider alternatives like piped natural gas.
- 01Domestic LPG cylinder prices are ₹913 in Delhi and ₹912.50 in Mumbai, unchanged from previous rates.
- 02The price of a 19-kg commercial LPG cylinder in Delhi exceeds ₹3,000, reflecting multiple hikes over recent months.
- 03A ₹60 increase in domestic LPG prices occurred in March 2023 due to rising international fuel costs.
- 04Several micro, small, and medium enterprises (MSMEs) are facing reduced profit margins due to high commercial LPG rates.
- 05India's petrol and diesel prices recently increased by ₹3 per litre, marking the first hike in four years.
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On May 16, 2023, domestic LPG cylinder prices remained stable across major Indian cities, with Delhi's price at ₹913 and Mumbai's at ₹912.50. Kolkata and Chennai residents pay ₹939 and around ₹928-929 respectively. This stability follows a ₹60 increase implemented in March, attributed to rising global energy costs and geopolitical tensions, particularly in West Asia. In contrast, commercial LPG cylinder prices have surged, with the cost of a 19-kg cylinder in Delhi exceeding ₹3,000. The price hikes have significantly affected micro, small, and medium enterprises (MSMEs), leading some businesses to explore alternatives like piped natural gas (PNG) to mitigate operational costs. The Indian government has refrained from further increasing domestic LPG prices to shield households from inflation, despite the pressures from rising international crude oil prices and fluctuations in the Indian rupee. This comes in the wake of a recent ₹3 increase in petrol and diesel prices, the first in four years, indicating broader fuel price pressures in the country.
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The stability in domestic LPG prices aims to shield households from inflation, while rising commercial LPG costs are squeezing MSMEs' profit margins.
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