NEW DELHI, Mar 7:
Domestic cooking gas LPG price on Saturday was hiked by a steep Rs 60 per cylinder, the second increase in rate in less than a year, as oil companies pass on a part of the spike in global energy rates that followed the West Asia crisis.
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Non-subsidised LPG – the one that common households use in kitchens – will now cost Rs 913 per 14.2-kg cylinder in Delhi as against Rs 853 previously, according to the Indian Oil Corporation (IOC) website.
Ujjwala Yojana beneficiaries – the over 10 crore poor who have got free LPG connection since 2016 – will also have to bear the same amount of price increase. They will now pay Rs 613 per 14.2 kg cylinder after accounting for a subsidy of Rs 300 per bottle they get for up to 12 refills in a year.
The price increase, the website showed, is effective from March 7.
This is the second increase in rate in 11 months. The price was last hiked by Rs 50 in April last year.
Alongside, the price of commercial LPG – the one used by establishments such as hotels and restaurants – was increased by Rs 114.5 per 19-kg cylinder. It now costs Rs 1,883 in Delhi. This increase comes on top of Rs 28 per 19-kg cylinder raise effected on March 1.
Commercial LPG rate has risen by Rs 302.50 this year.
Industry officials said the increase follows a steep rise in global energy prices since the US and Israel attack on Iran last weekend triggered a wider military conflict in the oil and gas-rich Middle East.
The conflict has led to a near halt in tanker movement through the Strait of Hormuz -the narrow but critical sea lane between Iran and Oman used by Middle Eastern producers to export oil and gas to global markets. The disruption has sharply curtailed energy shipments from the region, triggering a spike in global oil and gas prices. (PTI)
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