The Centre on Sunday revised the price of the 14 kg LPG cylinder. As per the announcement domestic cooking LPG will now cost Rs 29 extra marking the second rise in three months as stat owned fuel retailer grapple to meet supply-demand chain.
The price of a 14.2-kg LPG cylinder in Delhi will rise to Rs 942 from Rs 913 with effect from June 7, according to sources.
The recent adjustments highlight ongoing pressures in the international energy market. Industry data indicates the changes still leave domestic prices below previous historical peaks. State-run oil marketing companies were estimated to be losing about Rs 703 on every LPG cylinder sold before the latest revision, the sources said.
Earlier this year on March 7th, the LPG cylinder was hiked by Rs 60 per cylinder as the West Asia conflict intensified driving up international fuel prices.
The LPG adjustment reflects a larger financial strain on state-run oil marketing companies. Cooking gas is not the only energy segment facing upward pressure. State-owned fuel retailers have raised petrol and diesel prices by a cumulative Rs 7.50 per litre since mid-May, while compressed natural gas rates have increased by about Rs 6 per kg, according to sources.
in an attmept to protect consumers from the extreme volatility in global crude oil and fuel markets, the government has avoided a full pass-through of these higher international energy prices. Authorities are absorbing a significant part of the increase through the state-owned fuel retailers, reports revealed.
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