LPG Cylinder Prices Rise Amid Global Energy Market Volatility
LPG cylinder price on April 10: Check domestic and commercial gas rates in Delhi, Bengaluru, Mumbai, Kolkata today
Mint
Image: Mint
The prices of domestic and commercial Liquefied Petroleum Gas (LPG) cylinders have increased due to disruptions in the Strait of Hormuz following the ongoing conflict in West Asia. India's Defence Minister Rajnath Singh confirmed the government's efforts to maintain LPG supply, despite a significant portion of imports being affected.
- 01Domestic LPG prices rose by ₹60 in March, while commercial LPG prices saw increases of ₹144 and ₹200 in March and April respectively.
- 02India imports nearly 60% of its LPG, with West Asia being a major supplier, now facing disruptions.
- 03The US and Iran have agreed to a two-week conditional ceasefire, impacting energy market stability.
- 04State-owned oil companies adjust LPG prices monthly based on international market fluctuations.
- 05Consumers are encouraged to use digital platforms for LPG bookings amid supply management measures.
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The ongoing conflict in West Asia has led to increased prices for both domestic and commercial Liquefied Petroleum Gas (LPG) cylinders in India. Since February, global energy market volatility has resulted in a ₹60 hike for a 14.2 kg domestic LPG cylinder and a ₹344 increase for a 19 kg commercial cylinder due to supply disruptions, especially around the Strait of Hormuz, a critical energy route. India's Defence Minister Rajnath Singh assured that the government is working to ensure the availability of LPG, having successfully evacuated eight LPG vessels carrying 340 thousand metric tons of gas. The country, which relies on imports for nearly 60% of its LPG needs, is facing challenges as up to 90% of imports are disrupted. To manage distribution, booking intervals have been set, and consumers are advised to use digital methods for ordering refills. The government continues to monitor the situation to maintain energy security and supply stability.
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The rise in LPG prices will directly affect households and businesses that rely on LPG for cooking and operations, potentially increasing their monthly expenses.
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