The world is facing an energy crisis due to the ongoing conflict between the US and Iran. As energy supplies are disrupted due to tensions in West Asia, concerns continue over the prices of crude oil, LPG, CNG and PNG in India. After Washington rejected Tehran’s peace proposal, India is set to sign a deal with the UAE for LPG supply.
Suspense continues over a possible hike in the price of LPG gas cylinders. In the currency market, the Indian rupee opened weaker at 95.73 against the US dollar, from 95.71 on Wednesday. This reflects the pressure created by high crude oil prices and the ongoing volatility in the global market. India is now waiting for an important announcement that will affect every citizen; With this in mind, let’s take a look at the current gas prices in various cities:
The price of commercial LPG used in hotels and restaurants has increased even after the previous hike of Rs 993; the hike took the cost of a 19-kg cylinder to Rs 3,071.50. The high price has been putting continuous pressure on hospitality businesses and small commercial operators who rely on the fuel for cooking.
On May 13, domestic LPG cylinder prices across India remained unchanged, even as supply concerns related to the ongoing conflict in the Middle East continued to weigh on global energy markets. The domestic rate was last revised on March 7, when the price of a 14.2-kg cylinder was increased by Rs 60; no further changes were recorded this month. In Mumbai, the price of a 14.2 kg domestic cylinder remained stable at around Rs 912.50.
Meanwhile, the 5 kg FTL (market-rate) cylinder continued to be sold at a higher price; its price was earlier hiked from Rs 549 to Rs 810.50 per cylinder, making it slightly cheaper than a regular domestic cylinder.
