Oil companies hike commercial LPG rates due to fuel price surge, impacting metro consumers

New Delhi [India], March 1 (ANI): Oil marketing companies have announced a significant increase in the prices of commercial Liquified Petroleum Gas (LPG) gas cylinders, effective from March 1.
Sources reveal that the rate of 19 kg commercial LPG gas cylinders has been raised by Rs 25.50, impacting consumers across various metro cities.
The revision in prices comes amid ongoing fluctuations in fuel costs and market dynamics.
According to the latest updates, the retail sales price of a 19 kg commercial LPG cylinder in Delhi will stand at Rs 1795 from March 1 onwards. This adjustment reflects the evolving landscape of fuel pricing and its implications for consumers.
Comparing the revised prices with previous rates offers insights into the extent of the increase. In metro cities like Kolkata, Mumbai, and Chennai, the prices of 19 kg Indane gas cylinders have also been revised upwards.
Kolkata will witness a price hike to Rs 1911, while Mumbai and Chennai will see prices rise to Rs 1749 and Rs 1960.50, respectively.
The escalation in prices follows a series of consecutive revisions in recent months. Previous prices of 19 kg Indane gas cylinders on January 1 and February 1, highlight the upward trajectory of fuel costs.
On February 1, the prices of Indane gas cylinders varied across metro cities, with Delhi, Kolkata, Mumbai, and Chennai each having distinct rates.
In Delhi, the price stood at Rs 1769.50, while Kolkata recorded Rs 1887, Mumbai Rs 1723.50, and Chennai Rs 1937. These prices served as the baseline for consumers at the beginning of the month.
However, with the advent of March 1, consumers witnessed a notable increase in the prices of Indane LPG gas cylinders across all metro cities.
In Delhi, the price surged by 1.44 per cent (Rs 25.5), reaching a new rate of Rs 1795. Similarly, Kolkata experienced an increase of 1.27 per cent (Rs 24), resulting in a revised price of Rs 1911.
Mumbai saw a rise of 1.48 per cent (Rs 25.5), bringing the price up to Rs 1749, while Chennai witnessed an increase of 1.21 per cent (Rs 23.5), setting the new rate at Rs 1960.50.
The impact of these price hikes is felt across various segments of society, highlighting the broader economic ramifications of fluctuations in fuel prices.
The increases underscore the challenges faced by consumers amidst fluctuating fuel prices and economic uncertainties.
While the precise reasons behind the price hike remain undisclosed, various factors such as changes in international oil prices, shifts in taxation policies, and supply-demand dynamics likely contribute to such adjustments.
The consecutive revisions emphasize the volatile nature of the energy market and its implications for households and businesses reliant on commercial LPG cylinders. (ANI)