SRINAGAR: Domestic LPG prices have been increased by Rs 29 per 14.2-kg cylinder, marking the second hike in the past three months. Following the latest revision, the price of a 14.2-kg domestic LPG cylinder in Delhi has risen from Rs 913 to Rs 942. The revised rates came into effect on June 7, according to an NDTV report citing industry sources.
The increase comes amid continued pressure on global oil and gas supplies due to the ongoing conflict in the Middle East.
The revised rates will be applicable across the country, although retail prices will continue to vary between cities because of differences in local taxes and transportation costs.
The latest revision follows a Rs 60 per cylinder increase on March 7, introduced after the conflict in West Asia disrupted global energy supplies and pushed up international fuel prices. According to The Hindu, industry sources said that the earlier increase had only partially compensated for losses incurred on domestic LPG sales.
The rise in LPG prices coincides with increases in other fuel rates. Petrol and diesel prices have been raised by a cumulative Rs 7.50 per litre since mid-May, while compressed natural gas (CNG) prices have increased by around Rs 6 per kg.
Despite the recent hikes, oil marketing companies continue to sell petrol and diesel below their actual cost, the report said. According to industry estimates cited in the report, companies are incurring losses of about Rs 11 per litre on petrol and Rs 33.6 per litre on diesel.
