Commercial LPG cylinder prices hiked by Rs 933 amid rising global crude oil prices

Prices of commercial LPG cylinders were increased by Rs 933 on May 1 following a sharp rise in global crude oil prices linked to the escalating conflict in the Middle East and the ongoing US-Iran tensions.

 

According to state-run oil companies, the price of a 19-kg commercial LPG cylinder in Delhi now stands at Rs 3,071.50.

 

The latest hike comes after an earlier increase of Rs 195.5 per 19-kg cylinder implemented on April 1.

 

However, domestic cooking gas prices remain unchanged. A 14.2-kg domestic LPG cylinder continues to cost Rs 913 in Delhi, according to Indian Oil Corporation Limited (IOCL).

 

State-owned oil marketing companies including Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited revise LPG and aviation turbine fuel (ATF) prices on the first day of every month based on international fuel benchmarks and currency exchange rates.

 

The price increase follows a surge in global crude oil rates, with Brent crude reportedly touching 126 US dollars per barrel amid disruptions in energy supplies caused by geopolitical tensions in the Middle East.

 

Reports indicate that crude oil prices have risen nearly 60 percent since the escalation of the US-Iran conflict.

 

Meanwhile, IOCL clarified that retail prices of petrol, diesel, and domestic LPG cylinders would remain unchanged in order to shield ordinary consumers from the impact of rising international fuel prices.

 

The company stated that nearly 80 percent of petroleum products have seen no price revision, while price hikes have mainly been limited to industrial-use products such as commercial LPG, bulk diesel, and aviation fuel for international airlines.

 

IOCL described the pricing approach as “calibrated and balanced,” aimed at aligning with global market trends while protecting domestic consumers and maintaining economic stability.