New Delhi: In an effort to ease some pressure on oii marketing companies, the Centre increased the price of 19 kg commercial LPG cylinders by Rs 993 on Friday.
A commercial cylinder will now cost Rs 3,071.50 in Delhi, ANI reported. There will be no change in the price of domestic cylinders.
This is the third time that the Centre has hiked the price of commercial cylinders since the Middle East crisis began on February 28. The price was first increased by Rs 144 in March and, followed by Rs 200 on April 1, as reported by NDTV.
This move is likely to affect restaurants, eateries and other businesses. They will pass on the burden to customers.
Officials said that this adjustment was necessary as the oil marketing companies are suffering losses of nearly Rs 16,000 crore per day due to the g
lobal energy crisis.
The retail prices of petrol, diesel, and domestic LPG (14.2 kg cylinders) have remained unchanged, fully insulating domestic consumers from the recent increase in international fuel prices, Indian Oil Corporation Ltd (IOCL) said, as reported by The Times of India.
“No change in prices of domestic LPG (14.2 kg) for 33 crore domestic LPG consumers. No change in ATF prices for domestic airlines (scheduled operations),” the company said.
“Overall, nearly 80% of petroleum products have witnessed no change in prices, ensuring stability for the majority of consumers. Prices of bulk and commercial LPG cylinders (less than 1% of total consumption) have been revised. Prices of Bulk Diesel and ATF for international airline operations have been adjusted upward. At the same time, around 4% of petroleum products have seen a downward revision, reflecting the dynamic nature of global price movements,” IOCL added.
The measures reflect the calibrated and balanced approach adopted by oil marketing companies, under the guidance of the ministry of petroleum and natural gas, to align with global market trends while protecting domestic consumers and ensuring economic stability, it said.