The Ministry of Petroleum and Natural Gas stated that only commercial LPG prices have been raised in India, keeping domestic LPG prices unchanged to shield households from soaring import costs due to disruptions from the Iran conflict. Commercial LPG cylinders, mainly used by industries and hotels, have seen a price surge due to a 44% increase in the Saudi Contract Price, reaching $780/MT for April. This increase is influenced by global LPG supply disruptions in the Strait of Hormuz.
The Ministry emphasized that the price of a 14.2 kg domestic LPG cylinder remains steady at Rs 913, in line with Prime Minister Narendra Modi’s commitment to safeguard domestic consumers. Additionally, the subsidized price for LPG cylinders under the PMUY scheme remains unchanged at Rs 613. Public sector oil marketing companies are currently facing an under-recovery of Rs 380 per cylinder, with projected cumulative losses nearing Rs 40,484 crore by the end of May.
India’s domestic LPG prices are highlighted as among the lowest globally, with comparisons made to neighboring countries like Pakistan, Sri Lanka, and Nepal. The Ministry clarified that regular petrol and diesel prices remain stable at Rs 94.77 per liter and Rs 87.67 per liter, respectively, in Delhi. Despite global petroleum price surges, public sector oil marketing companies are encountering under-recoveries on petrol and diesel, with premium petrol variants witnessing a recent Rs 2 per liter revision.
