LPG price hike: Check new rates for domestic, commercial cylinders
What's the story
The price of domestic cooking gas, or Liquefied Petroleum Gas (LPG), has been hiked by ₹60 per cylinder from today. The hike comes as oil companies account for rising energy costs amid the ongoing Middle East conflict. The new rate for a 14.2-kg domestic cylinder in Delhi is now ₹913, according to the Indian Oil Corporation (IOC) website.
Regional rates
Price hike applicable across different cities
The price hike is applicable across different cities but varies due to local sales tax or VAT. In Mumbai, a non-subsidized LPG cylinder now costs ₹912.50, while in Kolkata and Chennai, the prices are ₹939 and ₹928.50, respectively. This is the second rate hike in 11 months with the last increase being ₹50 in April last year.
Subsidy impact
Impact on Ujjwala scheme
The price hike does not affect the Ujjwala scheme, which has provided over 10 crore connections to economically weaker households. Earlier this month, commercial LPG prices were also hiked by ₹114.5 per 19-kg cylinder. The new rate for commercial LPG in Delhi is now ₹1,883. The increase is likely to impact businesses such as hotels and restaurants that rely on these cylinders for their operations.
Official statement
No energy shortage in India, Union Minister assures
Amid the price hikes, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri assured that there is no energy shortage in India. He said, "Our priority is to ensure the availability of affordable and sustainable fuel for our citizens, and we are doing it comfortably." Indian Oil Corporatio dismissed reports of petrol and diesel shortages as baseless.
Import strategy
India imports crude oil from Russia
Since 2022, India has been importing crude oil from Russia, which accounted for just 0.2% of India's total crude imports in 2022. However, this share has increased significantly over the years. In February this year alone, India imported around 20% of its total crude oil imports from Russia, approximately 1.04 million barrels per day, government sources said.