LPG cylinder rate today, March 24: Domestic and commercial LPG cylinder prices remained steady on Tuesday (March 24th), even as Iran denied it was in talks with the United States to end the war in the Middle East, which could explain further escalating conflicts in the coming days.
The US-Iran war and the effective suspension of trade through the crucial Strait of Hormuz has resulted in a shortage of cooking gas supplies in India, both domestic LPG and commercial LPG. India relies on imports for most of its domestic and commercial LPG around 60%. Most of these imports, approximately 90%, enter India through the Strait of Hormuz.
As the government and OMCs continued to reassure the public about the availability of crude oil and LPG amid panic over gas supply shortages, Prime Minister Narendra Modi on Monday described the conflict in the Middle East as a concern for India.
Read also | Exercise all options: India’s LPG shortage requires a full-spectrum response
Increase in LPG cylinder prices in India
India is keeping a close eye on domestic LPG and commercial LPG cylinder prices amid Iran’s blanket blockade of the Strait of Hormuz, through which only a few Indian ships are allowed to pass.
At the beginning of March, the government increased the prices of domestic LPG cylinders and commercial LPG cylinders. Domestic LPG rate increased ₹50 for a cylinder weighing 14.2 kg. Commercial LPG rate has been increased ₹144 for a 19 kg cylinder.
Read also | “LPG supply is a problem, but no drying up,” says ministry – Check out the best updates
To manage the situation, the government brought cooking gas under the Essential Commodities Act of 1955. This implemented a tiered distribution strategy that favors households and limits supplies to commercial establishments to a fifth of their requirements.
There have been no fresh revisions to cooking gas prices since the LPG cylinder rate hike in early March.
Domestic LPG and Commercial LPG Rates in Delhi, Mumbai, Kolkata, Chennai – Complete List
Here is the list of domestic and commercial LPG cylinder prices in major Indian cities on March 24, including Delhi, Mumbai, Kolkata, Chennai and Bangalore —
New Delhi: LPG domestic price- ₹913; commercial LPG price – ₹1,884.50
Mumbai: LPG domestic price- ₹912.50; commercial LPG price – ₹1,836
Kolkata: domestic price of LPG- ₹939; commercial LPG price – ₹1,988.50
Chennai: domestic price of LPG- ₹928.50; commercial LPG price – ₹2,043.50
Hyderabad: domestic price of LPG- ₹965; commercial LPG price – ₹2,105.50
Lucknow: LPG domestic price- ₹950.50; commercial LPG price – ₹2007
Bengaluru: domestic price of LPG- ₹915.50; commercial LPG price – ₹1,958
Patna: Domestic LPG Price- ₹1,002.50; commercial LPG price – ₹2,133.50
Read also | “LPG supply is a problem, but no drying up,” says ministry – Check out the best updates
PM Modi expresses concern about India
Addressing the Lok Sabha on Monday, Prime Minister Narendra Modi called the US-Iran war in the Middle East “disturbing” and warned of challenges for India.
“The situation in West Asia is alarming. This conflict has been going on for more than three weeks,” PM Modi said.
He pointed out that India is also affected by the war as most of the country’s oil and gas imports come through the Middle East.
“This war has also created unprecedented challenges for India. These challenges are economic, national security-related and also humanitarian. India has extensive trade relations with belligerent and war-affected countries. The area where this war is taking place is also an important route for our trade with other countries of the world. In particular, a large part of our oil and gas needs are met by this region,” the prime minister said.
Key things
- The US-Iran conflict poses significant economic challenges for India that impact oil and gas supplies.
- India imports approximately 60% of its LPG, with 90% of these imports passing through the Strait of Hormuz.
- The government has put in place measures to manage LPG distribution and prioritize households over commercial establishments.
