The rising inflation will further burn a deeper hole in the pockets of Indian consumers, as the prices of commercial Liquefied petroleum gas (LPG) cylinders has been increased from Tuesday, as per reports quoting news agency ANI. According to a notification, the cost of commercial LPG cylinder has been increased by Rs 105 in Delhi starting from March 1. The National Oil Marketing companies had previously slashed the prices of 19 kg commercial LPG cylinder cost by Rs 91.50 on February 1.
With this increase, 19 kg commercial cylinder will cost Rs 2,012 in Delhi from Tuesday. Meanwhile, the price of 5 kg cylinder also increased by Rs 27. Now 5 kg cylinder will cost Rs 569 in Delhi. However, the rates of domestic cylinders remained the same as of now.
The price of a commercial gas cylinder in Kolkata was incresed by Rs 105 to Rs 2,089. In Mumbai, commercial gas will now cost Rs 1,962 with the hike of Rs 105. Chennai saw hike of Rs 105 with the price of a 19-kg commercial gas cylinder to Rs 2,185.5.
It is worth noting that the LPG Cylinder rates are revised monthly for all the states and union territories in India. The hike in LPG prices will have greater ramifications in the commercial sector in India.
Just before Fubruary, in a span of just five months the commercial LPG price hike saw a hike in price for five times. The prices were last hiked on November 1, and before that on October 15. As per the notification, there was no increase in the prices of domestic cylinders that weigh 14.2kg, 5 kg, 10kg composite or 5kg composite cylinders.
According to media reports, there could be a sharp rise in cooking gas prices starting from April 2022. Besides LPG gas cylinders, the prices of compressed natural gas (CNG), Piped Natural Gas (PNG), and even electricity could also increase in the coming months. The increase in the prices of CNG, electricity and other petroleum products could lead to a surge in transportation cost and operational expenses. Consumers could have to pay more for daily goods and services due to the rise in the prices of LPG, CNG, PNG and other petroleum goods.
The Russia-Ukraine crisis will add to the woes of the common man, as the former is a major supplier of gas to European countries via its multi-million dollar transcontinental pipelines. The crisis could disrupt the supply, creating a supply chain issue.
Moreover, the escalating tensions are signalling towards fears of war – a scenario that will have a severe impact on the gas and petroleum prices.
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