Oil Marketing Companies in India have increased the price of a domestic 14.2-kg LPG cylinder by Rs 29 [1].
This price hike directly impacts millions of households across the country, increasing the cost of a basic necessity amid ongoing economic volatility. The adjustment affects major urban centers, including Delhi, Mumbai, Chennai, and Bengaluru [2].
Effective June 7, 2024 [1], the new price for a standard domestic cylinder in the National Capital Region of Delhi is Rs 942 [1]. This latest increase follows a previous price hike of Rs 60 per cylinder in March 2024 [3]. When combined, the total increase for the year has reached Rs 89 per cylinder [4].
Officials said the price rise is due to global energy supply disruptions and rising international fuel prices resulting from the conflict in West Asia [1, 2]. The companies said the move is also intended to partially offset losses incurred by the oil marketing companies on subsidized cooking-gas sales [1, 2].
Domestic consumers are not the only ones facing higher costs. Earlier in May, the price of 19-kg commercial LPG cylinders increased by nearly Rs 100 per cylinder [2].
These fluctuations in fuel pricing have become a point of political contention. Opposition leaders have used the price hikes to criticize the administration's handling of inflation and the cost of living for average citizens.
“Domestic LPG price increased by Rs 29 per 14.2-kg cylinder”
The recurring increase in LPG prices reflects the vulnerability of India's domestic energy costs to geopolitical instability in West Asia. By raising rates to offset losses from subsidies, Oil Marketing Companies are shifting the financial burden of global market volatility onto the consumer, which may exacerbate inflationary pressures on household budgets.
