State-owned oil marketing companies have ushered in the new month with a substantial hike in the prices of commercial LPG cylinders, a move directly attributed to the escalating energy crisis in West Asia. From Wednesday, the cost of a 19-kg commercial cylinder has jumped by as much as ₹218, while 5-kg mini cylinders have seen an increase of ₹51, marking the second major price revision in just four weeks.
Following this latest adjustment, a 19-kg commercial cylinder in Delhi now costs ₹2,078.50, while businesses in Mumbai will pay ₹2,031— both cities seeing a rise of roughly ₹195. This is more visible in the case of Kolkata and Chennai, which are now priced at ₹2,208 and ₹2,246, respectively. This is a result of the last hike of ₹114.50 on March 1, which is a result of the extremely volatile nature of the international markets due to the hostilities which commenced on February 28.
The main cause of these changes is the functional closure of the Strait of Hormuz, which is a chokepoint for a significant part of India’s energy imports. With international oil prices having risen by 50 pc due to the hostilities, Indian Oil (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) are being forced to match the prices with the international rates.
While the hospitality and industrial sectors brace for higher operational costs, domestic households have been granted a temporary reprieve. The price of a standard 14.2-kg domestic cooking gas cylinder remains unchanged at ₹913 in the national capital, held steady after a ₹60 increase early last month. Similarly, petrol and diesel rates remain frozen; in Delhi, petrol continues to retail at ₹94.72 and diesel at ₹87.62, prices that have remarkably seen no movement for over a year. However, with the regional conflict showing no signs of an immediate ceasefire, pressure on the government to maintain these subsidies is expected to mount as the financial year begins.
Also read: 18 Indian ships with crude oil, LPG stranded in Hormuz amid war
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