National, May 1: Prices of commercial LPG cylinders were sharply increased by Rs 933 on May 1, driven by a steep rise in global crude oil rates linked to escalating tensions in the Middle East and the ongoing US-Iran conflict.
According to Indian Oil Corporation Limited (IOCL), the price of a 19-kg commercial LPG cylinder in Delhi has risen to Rs 3,071.50. The latest revision follows an earlier hike of Rs 195.5 per cylinder implemented on April 1, reflecting sustained upward pressure on fuel costs.
Despite the increase in commercial LPG rates, domestic cooking gas prices have been left unchanged. A 14.2-kg household LPG cylinder continues to be priced at Rs 913 in Delhi, as state-run oil marketing companies maintain a buffer to shield consumers from global price volatility.
Public sector oil firms, including Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited, revise prices of LPG and aviation turbine fuel at the start of each month in line with international benchmarks and currency fluctuations.
The increase comes amid a surge in global crude oil prices, with Brent crude reportedly reaching 126 US dollars per barrel due to supply disruptions caused by geopolitical instability. Crude prices have risen by nearly 60 per cent since the escalation of tensions involving the United States and Iran, according to market reports.
IOCL stated that retail prices of petrol, diesel and domestic LPG cylinders have not been revised in order to protect ordinary consumers from the impact of rising international fuel costs. The company noted that nearly 80 per cent of petroleum products have not seen any price change, with increases largely confined to industrial-use fuels such as commercial LPG, bulk diesel and aviation fuel for international carriers.
Describing its pricing strategy as “calibrated and balanced”, IOCL said the approach aims to align with global market trends while minimising the burden on households and supporting overall economic stability.
