New Delhi (India), June 7: The price of domestic Liquefied Petroleum Gas (LPG) cylinders has been increased by ₹29 per cylinder, marking the second hike in the last three months.
Following the latest revision, a 14.2 kg domestic LPG cylinder in the national capital will now cost ₹942.
The revised rates have come into effect from today and will be applicable across the country.
However, the final retail price may vary from city to city due to differences in local taxes and transportation costs.
The anticipation was high for another hike, as just three days ago the Petroleum Minister said that the Oil Marketing Companies (OMCs) were incurring losses of around Rs 500 crores even after several rounds of hikes.
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The current revision follows an earlier hike of ₹60 per cylinder announced on March 7. Industry sources indicated that despite the increase, oil marketing companies are still recovering only a part of the losses incurred on domestic LPG sales.
The rise in LPG prices comes at a time when several other fuels have also witnessed upward revisions.
Petrol and diesel prices have increased by a cumulative ₹7 per litre since mid-May, while compressed natural gas (CNG) prices have risen by around ₹5 per kilogram.
Opposition parties have repeatedly criticized the government over rising fuel and cooking gas prices, arguing that the burden on households continues to increase.
The government, however, has maintained that India has managed global energy disruptions better than many countries and has taken measures to shield consumers from the full impact of international price volatility.
Officials and industry sources suggest that global geopolitical developments and fluctuations in energy markets will continue to influence domestic fuel pricing in the coming months.
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