LPG Prices Today – June 25: How expensive are domestic and commercial cylinders in Delhi, Mumbai, Bengaluru and other cities | Today’s news
LPG prices today, June 25: Domestic and commercial liquefied petroleum gas (LPG) cylinder costs remained steady on June 25, even as Brent crude fell to its pre-conflict closing price to settle at $72.48 a barrel. Global oil prices fell further on Thursday, supported by optimism over US-Iran peace talks and an increase in oil supplies. The Oil Marketing Companies (OMCs) have confirmed the retail LPG prices which were last revised earlier this month.
On June 7, the price of a 14.2 kg domestic LPG bottle was o ₹29 due to serious deficiencies. After the first revision ₹60, which was done on March 7, was the second increase in three months. With retail refineries revising the commercial cost of 19kg bottles on a monthly basis, there has been almost a spike ₹42 after the last revision due to the interruption of energy supplies through the transit route of the Strait of Hormuz. In particular, commercial LPG cylinder prices are directly linked to international import parity and follow the Saudi contract price (CP) set monthly by Saudi Aramco.
The cost of a commercial cylinder has therefore risen by almost 79% over the past four months, driven by geopolitical tensions in West Asia as the government passed on the price shock to commercial consumers.
Rupee appreciates as Brent crude falls to pre-war levels
The rupee appreciated 22 paise to 94.33 against the US dollar in early trade as stranded tankers left the Strait of Hormuz following an initial peace deal on a permanent deal. The world’s third-largest oil importer and consumer will see record LPG imports from the US this month, expected to touch 1 million metric tons, Reuters reported, citing industry sources.
With the easing of traffic through the Hormuz choke point, supplies from the UAE have started to recover this month to around 300,000-400,000 tonnes and around 45,000 tonnes of LPG from Kuwait. This came after energy supplies from West Asia tightened and LPG imports fell to 696,000 tonnes in April from 2 million tonnes for the month.
30 ships bound for India successfully pass through the Strait of Hormuz
While 26 India-bound ships wait to cross the Strait of Hormuz, a total of 30 vessels have successfully passed through the critical waterway. According to a Times of India (TOI) report, of the ships that passed through the gulf, 15 were carrying LPG and LNG, eight were bulk carriers and seven were crude tankers. Of the 30 ships, 19 passed between March 1 and June 17, while 11 others crossed the strait following the signing of a memorandum of understanding between Washington and Tehran.
