Indian Thought Latest News & Views
Delhi:At the beginning of May, government oil companies ( LPG Cylinder )have delivered a major price shock to commercial LPG users. The price of the 19-kg commercial LPG cylinder has been increased by a record ₹993. Following this hike, the price in Delhi has surged to ₹3,071.50, marking its highest level ever.
Previously, the cylinder was priced at ₹2,078.50. This sharp increase is expected to directly impact hotels, restaurants, and small businesses, likely pushing up food prices.
₹1,303 Increase in Three Months
Commercial LPG prices have risen for the third consecutive month:
- March 1: ₹114.5 increase
- April 1: ₹195.50 increase
- May 1: ₹993 increase
In just 60 days, the total hike has reached ₹1,303. Experts believe this will soon reflect in the cost of food and services.
Impact of Middle East Crisis
Middle East
The ongoing geopolitical tensions in the Middle East are considered the primary reason behind the surge. Global crude oil and gas prices have risen sharply, disrupting supply chains. Since India imports a large portion of its energy needs, international price movements directly affect domestic rates.
Relief for Domestic Consumers
Despite the sharp rise in commercial LPG prices, domestic consumers have received some relief. The price of the 14.2-kg household LPG cylinder remains unchanged at ₹913 in Delhi.
Petrol and Diesel Prices Stable
Oil companies have kept petrol and diesel prices unchanged. In Delhi, petrol is priced at ₹94.72 per litre, while diesel stands at ₹87.62 per litre.
Experts suggest that if global market conditions remain volatile, energy prices may continue to fluctuate in the coming months.
