‘Cooking gas prices in India among lowest in world’:LPG cylinder rates lower than Pakistan, Bangladesh, Nepal Sri Lanka, says govt

Indian households continue to pay among the lowest prices for cooking gas globally despite a sharp rise in international LPG prices triggered by disruptions in West Asia, the government said on Sunday, a day after increasing domestic LPG prices by ₹29 per cylinder. International gas prices up 46% since Iran war against India’s 10% increment, says govt The price of a 14.2-kg domestic LPG cylinder in Delhi was raised to ₹942 from ₹913, while beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY) will continue to pay an effective ₹642 per cylinder after receiving a subsidy of ₹300 per refill on the first four refills annually, down from 9 refills announced last year. India’s LPG import costs are linked to the Saudi Contract Price (CP), the global benchmark for the fuel. The benchmark has risen about 46% since February after disruptions linked to the Strait of Hormuz tightened supplies from the Gulf region, according to the statement. Despite the increase, domestic LPG prices remain below those prevailing in neighbouring countries such as Pakistan, Nepal, Bangladesh, and Sri Lanka, and significantly lower than prices in advanced economies, including the United States, Australia, and Canada, the government said. Oil companies lose about ₹703 on each cylinder sale The increase follows a ₹60-per-cylinder hike on March 7, taking the cumulative hike to ₹89 per 14.2-kg cylinder. State-run oil marketing companies were estimated to be losing about ₹703 on every LPG cylinder sold before the latest revision. India maintained uninterrupted energy supply via Hormuz Strait during West Asia conflict: govt The government also said India was among the few countries able to maintain uninterrupted energy shipments through the Strait of Hormuz during the crisis, ensuring there was no shortage of LPG or other petroleum products in the country.