- Commercial LPG prices rose by Rs 195.50 on April 1
- A 19-kg commercial LPG cylinder now costs Rs 2,078.50 in Delhi after the hike
- Domestic LPG prices remain unchanged at Rs 913 per 14.2-kg cylinder in Delhi
Prices of commercial LPG were hiked by Rs 195.50 on Wednesday, April 1, on the back of surge in global crude oil prices linked to the escalating Middle East conflict. A 19-kg commercial LPG now costs Rs 2,078.50 in Delhi, according to state-owned oil companies. Commercial liquefied petroleum gas rates were last increased by Rs 114.5 per 19-kg cylinder on March 1.
Domestic cooking gas LPG rates, which were last hiked by Rs 60 per 14.2-kg cylinder on March 7, remain unchanged, according to news agency PTI. It costs Rs 913 per 14.2-kg cylinder in Delhi. State-owned oil marketing companies Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum revise ATF and LPG prices on the first day of every month based on international benchmarks and the exchange rate.
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The increase comes as global oil prices have risen amid disruption to energy supplies linked to the conflict in the Middle East. Higher crude prices often influence fuel costs and supply decisions across energy markets. Crude oil prices have shot up almost 50% since the beginning of the US-Iran war. Meanwhile, the price of aviation turbine fuel (ATF), or jet fuel, was more than doubled to an all-time peak of Rs 2.07 lakh per kilolitre on Wednesday.
ATF price in Delhi was hiked by Rs 110,703.08 per kilolitre, or 114.5 per cent, to Rs 207,341.22 per kl, according to state-owned fuel retailers. This is the first time ever that ATF prices have crossed Rs 2 lakh per kl-mark. The previous peak was in 2022 when rates were hiked to Rs 1.1 lakh per kl after oil prices surged after Russia invaded Ukraine. This is the second monthly increase in rates. Prices on March 1 were hiked by 5.7% (Rs 5,244.75 per kl).
The rising prices will further strain airlines which are already burning more fuel in taking longer routes for flying to western destinations because of closure of airspace due to the war. Fuel makes up around 40% of an airline's operating cost. Petrol and diesel prices continue to remain frozen after a Rs 2 per-litre reduction in March last year. Petrol currently costs Rs 94.72 per litre in Delhi and diesel Rs 87.62.
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