The new prices, in effect from March 1, a 14.2-kg domestic LPG cylinder has been priced at INR 1,103 in Delhi, INR 1,102.50 in Mumbai, INR 1,129 in Kolkata, and INR 1,118.50 in Chennai.
Commercial LPG prices have also been hiked by INR 350.50 per 19-kg cylinder in Delhi to INR 2,119.50.
Unlike domestic LPG, which is used by households, where the last revision was on July 6, 2022, commercial LPG prices were revised at regular intervals.
Global oil prices had skyrocketed owing to Russia’s invasion forcing the public sector Oil Marketing Companies (OMCs), IOC, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation to halt regular revisions in domestic LPG prices to shield end-consumers from extreme fuel price volatility.
OMCs suffered heavy losses at the time. In October, the Centre earmarked 22,000 crore to the OMCs as compensation for the losses on domestic LPG sales.
With global fuel prices easing since then, the OMCs are now recouping the losses.
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