Daijiworld Media Network - New Delhi

New Delhi, Apr 1: The price of commercial LPG cylinders has been increased by Rs 195.5 on Wednesday amid rising global concerns over oil supply and a surge in fuel prices.

With the latest revision, the price of a 19-kg commercial LPG cylinder in Delhi now stands at Rs 2,078.50, according to reports citing state-run oil companies.

However, domestic LPG cylinder prices remain unchanged since the last revision on March 7. Currently, a 14.2-kg domestic LPG cylinder costs Rs 913 in Delhi, following a hike of Rs 60 earlier.

State-owned oil marketing companies including Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum revise LPG and ATF prices on the first day of every month based on global benchmarks and currency exchange rates.

The price hike comes amid a global energy crisis triggered by disruptions in oil supply, particularly due to the blockade of the Strait of Hormuz, through which nearly 20 percent of the world’s crude oil passes. Although some Indian-flagged vessels have managed to cross the route, overall shipping movement has been affected, contributing to rising oil prices.

Amid the ongoing situation, India is encouraging a shift towards piped natural gas (PNG), which is supplied through a fixed pipeline network and is less dependent on imports compared to LPG sourced largely from the Middle East.