LPG Price Hike: Big shock in the morning, domestic LPG cylinder became costlier by Rs 29, price increased for the second time in three months

Domestic Gas Cylinder Price Hike: Sunday morning has brought another bad news for the people struggling with inflation. The prices of domestic LPG cylinders have been increased by Rs 29. After this, the price of 14.0 kg domestic gas cylinder in the capital Delhi has increased from Rs 913 to Rs 942.

This is the second major increase in LPG cylinder prices in the last three months. Earlier, LPG prices were increased on March 7, when it was increased by Rs 60. At that time, there was turmoil in the global energy market due to increased tensions in the Middle East and the blockade of the Strait of Hormuz. Due to which an increase in fuel prices was seen in the international market.

Increasing financial pressure on oil companies

Regarding the increase in the prices of LPG gas, major oil companies of India said that due to the increase in the cost of gas in the international market, the financial pressure on them is continuously increasing. According to the information, before the recent increase, oil companies were incurring a loss of about Rs 703 per cylinder on the sale of domestic cylinders. However, even after the new increase, there will not be much difference in the difference between the cost and selling price of the companies. In such a situation, it is believed that there may be an increase in the prices of domestic LPG cylinders in the coming times.

In recent times, there has been a continuous increase in the prices of not only domestic gas cylinders but also petrol, diesel and CNG. Since May 15, the prices of petrol and diesel have increased by a total of Rs 7.50 per liter. Whereas, CNG has increased by about Rs 6 per kg.

LPG price in major cities

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How much loss are the companies incurring?

According to statistics, despite the increase in fuel prices, oil companies are continuously incurring losses. According to an estimate, companies are facing a loss of about Rs 11 per liter in the sale of petrol. Whereas in diesel this loss is around Rs 33.6 per liter.