LPG Price Today: How expensive is commercial and domestic cooking gas in Delhi, Mumbai amid Strait of Hormuz closure | Today’s news
LPG Price Today, July 14: Commercial and domestic cooking gas rates remained unchanged on Tuesday, despite a surge in oil prices amid renewed tensions in West Asia. While the blockade of the Strait of Hormuz has introduced new risk to the market, state-owned oil marketing companies (OMCs) continue to offer commercial liquefied petroleum gas (LPG) cylinders at the same rates after a monthly review on July 1.
Following the latest adjustment in the commercial price of LPG, which is in line with Saudi Aramco’s Official Selling Price (OSP), global market trends and currency fluctuations, the price of a 19kg cylinder has been reduced by ₹183.50. Meanwhile, the domestic cooking gas price of 14.2kg has not changed since the June 7 price hike. In the second revision, from the beginning of the US-Iran war, its rate was increased by ₹29.
As both the US and Iran vie for control of the strategic waterway, the US launched strikes against Iran early on Tuesday in response to attacks on its assets in West Asia. The latest round of US strikes came hours after US President Donald Trump said Washington was “renewing” the blockade on Iran in the Strait of Hormuz. Amid escalating hostilities, benchmark Brent crude rose to a one-month high of over $84 a barrel.
To ensure supply in this hostile climate, OMCs are tuning in to explore the LPG and liquefied natural gas (LNG) markets, Mint said. Amid heightened uncertainty about energy flows, check here for the latest cylinder tariffs for households and commercial businesses.
Is Iran sneaking oil tankers through the strait?
According to a Bloomberg report, Iran has been sneaking oil tankers through the Strait of Hormuz for the past few days. Last week, a total of six supertankers subject to US sanctions, capable of carrying a combined 12 million barrels of oil, crossed the Persian Gulf into the Gulf of Oman. In addition, other ships subject to US sanctions and connected to Tehran, including oil tankers, LPG carriers and container ships, have been sailing from Hormuz since July 7. According to the ships’ tracking data, their transponders were turned off during the secret voyage.
US President Donald Trump proposed a 20% toll on cargo exceeding the US-backed choke point as he reinstated the maritime blockade. With dark transits predominating over visible ones, traffic through Hormuz came to a near halt early Tuesday morning. Two liquefied petroleum gas carriers were reportedly approaching the strait in opposite directions to exit the bay.
