India raises cooking gas prices as Iran war hits supply
- Indian Oil Corp, the country’s top refiner and LPG seller, has increased the prices of a 14.2-kg LPG cylinder in Delhi by 7% to 913 rupees ($9.93), according to its website
NEW DELHI: Indian companies have raised the prices of liquefied petroleum gas, mostly used as a cooking fuel, for the first time in about a year, as global prices surge with the U.S.-Israel war on Iran disrupting supplies from the Middle East.
Indian Oil Corp, the country’s top refiner and LPG seller, has increased the prices of a 14.2-kg LPG cylinder in Delhi by 7% to 913 rupees ($9.93), according to its website.
State refiners IOC, Bharat Petroleum Corp and Hindustan Petroleum Corp raised prices in tandem.
READ MORE: Pakistan govt hikes petrol, diesel prices by massive Rs55 per litre each
India, the world’s second-biggest importer of LPG, last year consumed 33.15 million metric tons of cooking gas, a mixture of propane and butane, with imports accounting for about two-thirds of LPG consumption. Middle Eastern LPG accounts for 85% to 90% of those imports.
India on Friday asked refiners to boost LPG production to avoid any shortage of cooking gas in the country.
Indian companies have also raised the prices of 19-kg commercial LPG cylinders, mainly used by hotels and restaurants, to 1,883 rupees from 1,768.50 rupees.
Comments
Comments are closed for this article.