Domestic cooking gas prices rise by Rs 50, at highest level since Feb 2014

The latest rise in prices by Rs 50 has taken the prices of domestic cooking gas to their highest levels since February 2014.

Among metro cities, Kolkata continued to have the highest domestic LPG prices at Rs 1,129 per cylinder refill, followed by Chennai at Rs 1,118. Delhi (Rs 1,103) and Mumbai (Rs 1,102.5) remained at par. Oil marketing companies (OMCs) had last revised the price of the standard 14.2 kg domestic liquefied petroleum gas (LPG) cylinder in July 2022.

The prices were raised since global volatility in fuel prices as a result of the war in Ukraine, have now largely subsided, a senior official at Indian Oil Corporation Limited said. “Prices of domestic cooking gas were largely untouched for long periods during the war.

The OMCs are expecting to recoup losses they suffered during this time,” he said. \

In May 2022, the government announced a targeted subsidy of Rs 200 per cooking gas (14.2 kg) cylinder for 90 million Pradhan Mantri Ujjwala Yojana beneficiaries for up to 12 refills for 2022-23.

The state-run companies also raised commercial LPG rates by Rs 350 for the 19 kg commercial cylinders, which now costs Rs 2,119 per refill in Delhi. India has about 313.7 million domestic LPG consumers, according to the Petroleum Planning & Analysis Cell.

OMCs sold nearly 21.8 million metric tonnes of LPG during April-December 2022, of which about 86.6 per cent was sold in the domestic sector.