India Hikes Domestic LPG Price by 60 Rupees

Oil companies in India raised the price of domestic liquefied petroleum gas by 60 rupees per 14.2-kilogram cylinder on March 7, citing surging global energy costs tied to the escalating conflict in West Asia. The adjustment, which affects nonsubsidized cylinders used by most households, brings the cost to 913 rupees in Delhi, up from 853 rupees. Similar increases apply across major cities, with prices now at 912.50 rupees in Mumbai, 939 rupees in Kolkata and 928.50 rupees in Chennai, varying due to local sales taxes and value-added taxes.

This marks the second price hike for domestic LPG in 11 months, following a 50-rupee increase in April of the previous year. The move comes amid a broader rise in energy prices, as the war in West Asia entered its eighth day. Benchmark Brent crude oil prices climbed to 87 dollars per barrel by Saturday, a 20.8 percent jump from 72.87 dollars on February 27. The conflict intensified after a joint Israeli-United States operation on February 28 targeted Iranian capabilities, prompting Iranian retaliation against Israeli and U.S. military sites, strikes on Gulf cities and threats to close the Strait of Hormuz, a vital shipping route for about 20...