Delhi LPG price ₹942, oil firms lose about ₹700
LPG just got pricier; now ₹942 for a 14.2-kg cylinder in Delhi, up by ₹29 since Sunday.
But here is the twist: even with the hike, oil companies are losing about ₹700 on every cylinder sold.
This is the second price jump since the West Asia conflict started earlier this year.
Global LPG prices up 46%
Global LPG prices have shot up 46% since February, thanks to supply issues in the Strait of Hormuz caused by ongoing tensions.
To help out, the government and oil marketing companies (OMCs) are offering subsidies, like ₹300 off per cylinder for Ujjwala scheme users (up to four times a year).
Domestic refineries now cover 70% of demand (up from 40%), and imports from countries like the US and Australia are filling gaps.
Still, overall LPG use has dipped as industrial supply gets rationed to prioritize homes.