Pralhad Joshi cites global disruptions as LPG rises ₹29
India
LPG cylinder prices just went up again: ₹29 more this month, after a ₹60 hike in March.
Union Minister Pralhad Joshi admits it's "very sad and sorry," but explains that global energy disruptions are leaving India with no real choice.
He reassures that, even with these increases, Indian households still pay some of the lowest LPG rates worldwide.
Cylinder supply cost exceeds ₹1,600
Joshi says India now has to buy LPG from far-off countries, which bumps up transport and insurance costs.
Plus, international benchmark prices have shot up 46% since February because of supply issues near the Strait of Hormuz.
Supplying each cylinder actually costs over ₹1,600 now, and before this price change, oil companies were losing ₹703 per cylinder.