LPG Price Hike | Domestic cooking gas prices have increased across India, including Tamil Nadu, with the cost of a 14.2-kg household LPG cylinder rising by ₹60 from March 7. Following the revision announced by oil marketing companies, the price of a domestic LPG cylinder in Chennai has increased to around ₹928.50, up from ₹868.50 earlier. The new rates came into effect immediately across the country.
The price revision also applies to commercial LPG cylinders used by hotels, restaurants and other businesses. The cost of a 19-kg commercial LPG cylinder has increased by about ₹115, reflecting a sharper rise compared to the domestic category. The price of a commercial LPG cylinder in Chennai has increased to around ₹2,043.50. The higher price of commercial LPG is likely to increase operating expenses for businesses that depend on these cylinders for cooking and food preparation.
Linked to Rising Global Energy Prices
The hike comes against the backdrop of geopolitical tensions in the Middle East, where the conflict involving Iran has disrupted global energy supply chains. International crude oil prices have risen sharply in recent days, as the conflict has raised concerns over shipments passing through the Strait of Hormuz, a critical maritime route for global oil and gas trade.
Energy analysts note that the Strait of Hormuz is a vital route for India’s fuel imports. Around 85% of India’s LPG imports and a significant portion of crude oil and LNG shipments move through the strait, making the country particularly sensitive to any disruption in the region.
Rahul Gandhi Had Raised Concerns Earlier
The LPG price hike comes days after Congress leader Rahul Gandhi raised concerns about the potential impact of the Middle East conflict on India’s energy security.
In a post on X, Rahul Gandhi pointed to the risks associated with disruptions in the Strait of Hormuz, through which a significant portion of India’s fuel imports pass. “India’s oil supplies are under threat, with more than 40% of our imports transiting the Strait of Hormuz. The situation is even worse for LPG and LNG,” he wrote.
– Magizh
