Domestic LPG prices for a 14.2-kg cylinder have been raised by Rs 29, effective June 7, 2024.
The price of a standard cooking gas cylinder in Delhi now stands at Rs 942, up from the previous rate of Rs 913.
This revision follows a steeper Rs 60 hike in March, driven by global energy supply disruptions and West Asia conflicts.
Domestic cooking gas prices have increased by Rs 29 per 14.2-kg cylinder, taking effect June 7. The revision pushes the cost of a standard cylinder in the national capital to Rs 942, up from Rs 913, according to industry sources.
State-owned fuel retailers implemented the hike as they continue to grapple with elevated global energy costs, according to PTI. This marks the second upward revision in just three months for the essential household fuel.
The recent adjustments highlight ongoing pressures in the international energy market. Industry data indicates the changes still leave domestic prices below previous historical peaks.
City Rates and History
Following the nationwide revision, major metropolitan areas have seen proportional increases. The new rate stands at Rs 941.50 in Mumbai, Rs 968 in Kolkata and Rs 957.50 in Chennai.
These elevated prices follow a steeper hike of Rs 60 implemented on March 7. That earlier increase was largely driven by ongoing geopolitical conflict in West Asia, which severely disrupted global energy supplies and drove up international fuel benchmarks.
Despite the consecutive increases this year, the current Delhi price of Rs 942 remains significantly lower than its historical maximum. The capital reached an all-time high of Rs 1,053 in July 2022, meaning today's price sits Rs 111 below that record peak, as per news reports.
Broader Fuel Price Trends
The LPG adjustment reflects a larger financial strain on state-run oil marketing companies. Industry sources told PTI that the increase had only partly offset losses incurred on domestic LPG sales. Before the latest revision, these retailers were estimated to be losing about Rs 703 on every domestic cylinder sold, PTI reported.
Cooking gas is not the only energy segment facing upward pressure. State-owned fuel retailers have raised petrol and diesel prices by a cumulative Rs 7.50 per litre since mid-May, while compressed natural gas rates have increased by about Rs 6 per kg, according to PTI.
Even with these recent increases, oil companies continue to sell petrol and diesel below cost. Industry sources told PTI the retailers are incurring losses of around Rs 11 per litre on petrol and Rs 33.6 per litre on diesel.
To protect consumers from the extreme volatility in global crude oil and fuel markets, the government has avoided a full pass-through of these higher international energy prices. Authorities are absorbing a significant part of the increase through the state-owned fuel retailers, PTI reported.
.jpg?w=200&auto=format%2Ccompress&fit=max "Unseal Mosques, Scrutinise All Religious Sites Equally: Arunachal Muslim Body")
