LPG Cylinder Price Hike: Amid the ongoing war in the Middle East, the prices of commercial and domestic LPG gas cylinders have been hiked. The price of 14.2 kg domestic LPG cylinder has been increased by Rs 60. With this, the price of domestic cylinder in Delhi has increased from Rs 853 to Rs 913.
Along with this, the price of 19 kg commercial LPG cylinder has also been hiked by Rs 115. Now the price of 19 kg commercial cylinder is Rs 1883 in Delhi and Rs 1835 in Mumbai. The new gas prices have been implemented from today.
On March 5th, the government, using emergency powers, ordered all oil refineries in the country to increase LPG production.
The government issued this order in response to concerns that rising tensions in the Middle East could impact gas supplies. It states that refineries will now use propane and butane exclusively for cooking gas production.
All companies must supply propane and butane to state-owned oil companies, including Indian Oil (IOC), Hindustan Petroleum (HPCL), and Bharat Petroleum (BPCL). The goal is to ensure uninterrupted supply of gas cylinders to consumers.
Energy experts believe that if tensions in the Middle East continue for a long time, it could have a major impact on the global energy market. Qatar’s Energy Minister, Saad al-Kaabi, has also warned that a prolonged war could lead to a global energy crisis. He also stated that crude oil prices could reach $150 per barrel. If this happens, gas prices could also see a significant surge.
