Domestic LPG cylinder prices remained unchanged in major Indian cities on Saturday, even as concerns over rising global energy costs continued to rise amid geopolitical tensions in West Asia. Oil marketing companies (OMCs) including Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited have kept the price of 14.2 kg household LPG cylinder at existing levels in metros including Delhi, Mumbai, Kolkata and Chennai.
According to a report by ET, the latest revision issued on May 16 showed that the domestic LPG pressure cylinder in Delhi continues to stand ₹913 while consumers in Mumbai pay ₹912.50. In Calcutta, the price stands at ₹939 while Chennai residents pay around ₹928-929 for standard domestic filling.
However, commercial LPG cylinder prices remain elevated after increasing several times in the last few months. According to LPG price tracker, a 19kg commercial LPG cylinder is priced higher in Delhi ₹3,000, while rates in Mumbai, Kolkata and Bengaluru also shot up.
Commercial LPG rates remain high
The current stability of domestic LPG prices comes after a ₹60 hike realized in March of this year. Household cylinder prices were revised upwards due to rising international fuel prices, while commercial LPG rates also saw a repeat increase during March, April and May.
According to Reuters, LPG prices are closely watched as India remains heavily dependent on imports for its cooking gas requirements. Global oil volatility, disruptions around the Strait of Hormuz and a fluctuating rupee have added pressure on state-owned fuel retailers in recent months.
Despite rising input costs, the center has so far avoided raising domestic LPG prices further, a move Reuters analysts said was aimed at protecting households from inflationary pressures. However, commercial users continue to face the burden of rising fuel costs.
According to a TOI report, several SMEs have warned of shrinking profit margins due to soaring commercial LPG rates, with some businesses exploring alternatives such as piped gas (PNG) to reduce operating costs.
Fuel price pressures intensified after India hiked petrol and diesel prices earlier this week ₹3 per liter for the first time in four years. Reuters reported that the increase was linked to increased global oil prices amid the ongoing crisis in the Middle East.
