Explore and learn about commercial LPG Gas Cylinder Price Hiked Double Burden in a Month, check out the hiked price in major cities: Delhi, Mumbai, Kolkata and Chennai at PrimeNewsly.
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This is the second time in a row that commercial LPG gas cylinder price has hiked; however, the good news is the price of domestic cooking gas cylinders that weighs 14.2 kg remain unchanged.
The recent news of the price hike of commercial LPG gas cylinders (19 kg) by ₹101.5 has outraged people. It is mainly because this is the second hike in the same month. While it was believed that the first hike was under the monthly revision of prices, the second hike came as a surprise.
Effective from 1 November, the commercial LPG gas cylinder price in Delhi will now be ₹1,833 from ₹1731.5. The revised rate is applicable for most of the cities of India, including Mumbai, Kolkata, and Chennai.
Usually, the prices of commercial as well as domestic LPG gas cylinders are revised monthly on the first day, keeping in mind the budget and other criteria. However, this year, the prices have been fluctuating due to different reasons.
It is believed that a combined effect of Goods and Service Tax (GST), bottling charges, inland logistic cost, dealer commission, marketing cost, and margins charged by OMC leads to increased prices. This year, the blame goes to the Isreal-Hamas war.
This time, the major reason for the increase follows a trend in crude oil prices. Since crude oil prices have been constantly rising in recent weeks due to the Israel-Hamas war, it results in the increase of LPG gas cylinders, too.
Despite Delhi, this price is also revised for metro cities such as Mumbai, Kolkata, and Chennai.
Seeing the second successive hike in commercial cooking gas cylinder price by ₹101.5, there is a rage in people. Here is the trend seen in the past few months regarding commercial LPG gas cylinders:
Seeing the LPG gas cylinder price history last year, these successive hikes have broken the budget of hotel industries.
Will the war affect domestic LPG gas cylinder prices as well?
Luckily, the Israel-Hamas war has not yet affected the prices of domestic LPG gas cylinders (14.2 kg), and their prices remain unchanged. Today, the prices of domestic LGP cylinders in the metro cities are:
In fact, the price of domestic gas cylinders was reduced by ₹200 in August. Moreover, since the launch of Pradhan Mantri Ujjwala Yojana (PMUY), approximately 96 million low-income beneficiaries have been getting it at an even lower price. Under this Yojna, the prices of LPG gas cylinders are as follows:
The major reason for the hike in commercial LPG gas cylinders going to Israel-Hamas was that it has affected crude oil prices worldwide.
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State-run oil companies decide the price of LPG gas cylinders and revise it monthly. Majorly, it depends upon international fuel rates and US dollar-rupee exchange rates. However, under certain circumstances, such as war or natural calamities, the prices may increase or reduce significantly.
Usually, the hike doesn’t affect big companies but hurts small businesses and poor people. It may also spur inflation and affect the economy.
With the recent hike in the prices of commercial gas cylinders, one can get it for ₹1,833 in Delhi.
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Conclusion
As commercial LPG gas cylinder prices hiked two times in a month, it has broken the back of small businesses, especially those involved in the hotel industry. Since the reason behind it is given as the Israel-Hamas war, it’s uncertain when the prices will be slashed. The increased commercial cooking gas cylinder price may affect the prices of food served on the plate.
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