LPG Prices Surge Amid Global Tensions: Latest Rates in Major Indian Cities
LPG gas cylinder price today after latest hike: Check revised fuel rates in New Delhi, Mumbai, Bengaluru on 3 May
Mint
Image: Mint
LPG commercial gas prices increased significantly on May 1, 2023, with a rise of ₹993 for a 19 kg cylinder, attributed to disruptions in global oil supply due to the ongoing conflict in West Asia. The Indian government continues to stabilize domestic LPG prices despite inflationary pressures.
- 01Commercial LPG prices saw a ₹993 increase on May 1, 2023.
- 02The rise in prices is linked to ongoing tensions in West Asia affecting oil supply.
- 03Domestic LPG prices have remained stable since a ₹60 increase in March.
- 04Political leaders are condemning the price hikes, citing impacts on small businesses.
- 05A vessel carrying 46,313 metric tons of LPG for India is expected to arrive on May 13, 2023.
Advertisement
In-Article Ad
On May 1, 2023, commercial LPG gas prices in India surged by ₹993, marking the largest single-day increase. This hike follows previous increases of ₹144 in March and ₹203 in April, driven by disruptions in global oil supply due to the ongoing conflict in West Asia. The Indian government has managed to keep domestic LPG prices stable despite these pressures, with no changes since a ₹60 increase in March. Political figures, including Rahul Gandhi, criticized the hike, linking it to rising inflation that could impact small businesses and household expenses. Meanwhile, a tanker carrying 46,313 metric tons of LPG is en route to Visakhapatnam, expected to arrive on May 13, 2023, which could help stabilize supply.
Advertisement
In-Article Ad
The steep rise in commercial LPG prices will likely lead to increased costs for small businesses such as restaurants and food vendors, affecting their profitability and potentially leading to higher prices for consumers.
Advertisement
In-Article Ad
Reader Poll
How do you feel about the recent increase in LPG prices?
Connecting to poll...
More about Indian Oil Corporation
Read the original article
Visit the source for the complete story.