Oil marketing companies have increased the prices of commercial LPG gas cylinders by 195 rupees and 50 paise across Metropolitan Cities amid the conflict in West Asia. 

 

As per the Indian Oil Corporation Limited website, the retail price of commercial LPG gas cylinders in Delhi is now two thousand 78 rupees and 50 paise. 

 

Similarly, commercial LPG prices have been increased to two thousand 208 rupees in Kolkata, 2 thousand 31 rupees in Mumbai, and two thousand 246 rupees and 50 paise in Chennai.

 

The revised price of the 19-kilogram commercial LPG cylinder has come into effect from today. 

 

Meanwhile, the price of domestic LPG cylinders has remained unchanged in the country.

 

The Government has clarified that prices of commercial LPG cylinders, used by industries and hotels, are deregulated, market-determined and revised normally on a monthly basis. 

 

In a social media post, the Ministry of Petroleum and Natural Gas said that their consumption is less than 10 percent of the total LPG consumed in the country. 

 

The Ministry said that the price increase in Commercial cylinder price is due to a 44 percent surge in the Saudi Contract Price, from 542 US dollars/ Metric Tonne in March to 780 US dollars / Metric Tonne for April, as 20-30 percent of global LPG supplies are stuck in Strait of Hormuz. 

 

It said the price of 14.2 kg domestic cylinder and the PMUY beneficiary price has remained 913 rupees and 613 rupees, respectively.

 

The Ministry said Oil Marketing Companies are incurring under recovery of 380 rupees per cylinder and cumulative losses by end-May will reach approximately forty thousand 484 crore rupees. 

 

It said in the last year, Oil PSUs absorbed thirty thousand crore rupees and the Government absorbed thirty thousand crore rupees to insulate the Indian citizen from high international LPG prices.

 

It further said, domestic LPG prices in the country remain one of the lowest in the world as compared to Pakistan, Sri Lanka and Nepal.

 

Additionally, regular petrol and diesel prices have remained unchanged amid uncertainty in global fuel prices due to the West Asia crisis.

 

The Ministry of Petroleum and Natural Gas said that the price of regular petrol and diesel stands at 94.77 rupees per litre and 87.67 rupees per litre in Delhi. 

 

The Ministry said that PSU Oil Marketing Companies are incurring under-recoveries of 24.40 rupees per litre on petrol and 104.99 rupees per litre on diesel at Retail Selling Price as on 1st April. 

 

It added that the recent revision of two rupees per litre applies only to premium petrol variants like XP95, Power95, Speed, which are high-octane performance products, whose prices are revised on a fortnightly basis and whose sales by volume are 2 percent and 5 percent of total volume. 

 

These are purchased by motorists, at a premium, by choice. It further said that every pump in India continues to offer regular petrol and diesel at unchanged prices, even as prices in countries all over the world have risen by thirty to fifty percent.