Domestic LPG prices rose by Rs 29 per 14.2-kg cylinder, with Union Ministers and NDA leaders attributing the hike to global energy disruptions and rising international fuel costs.
Union Minister Gajendra Singh Shekhawat noted that the price surge aligns with a global trend of increased petroleum product costs, ranging from 30% to 130%. He emphasized that the global crisis has disrupted supply chains worldwide, impacting India as well.
BJP leader Mukhtar Abbas Naqvi characterized the situation as temporary, acknowledging the global challenges affecting nations globally. He expressed optimism that the current issues are transient and not permanent.
Bihar Minister Santosh Kumar Suman assured that the government would address the impact of the price hike, recognizing its connection to global factors. He expressed confidence in efforts to stabilize the situation, highlighting the commitment of the Prime Minister and Finance Minister to find solutions.
JD-U national spokesperson Rajeev Ranjan Prasad highlighted the global economic impact, noting that India, like other nations, faces challenges due to prevailing abnormal global conditions. He emphasized the severity of the situation and the questions raised about the world economy.
The recent increase in domestic LPG prices amounts to Rs 29 per cylinder, bringing the price of a 14.2-kg LPG cylinder in Delhi to Rs 942 from Rs 913, according to industry sources.
The price hike follows a previous Rs 60 increase in March, as oil marketing companies grapple with losses on subsidised domestic LPG sales amidst high global energy prices and supply disruptions.
Industry estimates indicate that state-run oil companies were previously incurring losses of around Rs 703 per cylinder, with petrol and diesel also sold below cost despite recent adjustments. Cumulatively, petrol and diesel prices have risen in recent months, alongside upward adjustments in CNG rates.
