LPG Cylinder Price Raised By Rs 29

way2barak, June 7: The government increased domestic LPG prices by ₹29 per cylinder. The increase follows a ₹60-per-cylinder hike on March 7, taking the cumulative hike to ₹89 per 14.2-kg cylinder.

In a statement, the government said the cost of supplying a domestic LPG cylinder has risen to more than ₹1,600 following a surge in international prices that followed the outbreak of war in West Asia at the end February.

India’s LPG import costs are linked to the Saudi Contract Price (CP), the global benchmark for the fuel. The benchmark has risen about 46% since February after disruptions linked to the Strait of Hormuz tightened supplies from the Gulf region, according to the statement.

Despite the increase, domestic LPG prices remain below those prevailing in neighbouring countries such as Pakistan, Nepal, Bangladesh, and Sri Lanka, and significantly lower than prices in advanced economies, including the United States, Australia, and Canada, the government said.

The government also said India was among the few countries able to maintain uninterrupted energy shipments through the Strait of Hormuz during the crisis, ensuring there was no shortage of LPG or other petroleum products in the country. Domestic LPG production was increased and supplies diversified through alternative sourcing arrangements to safeguard availability, it added.