High international energy prices amid the West Asia crisis have led to a steep 47.8% increase in the price of commercial liquefied petroleum gas (LPG) used by industries and migrant labourers. The price of a 19-kg commercial LPG cylinder has been increased from ₹2,078.50 to ₹3,071.50.
State-run oil marketing companies (OMCs) have also raised prices of aviation turbine fuel for foreign airlines from Friday. ATF prices for international carriers were raised by about $76.55 per kilolitre (KL) to $1,511.86 from $1,435.31 a KL.
The price of a 19-kg commercial LPG cylinder has been increased by ₹993; hence, the price of 5kg free trade LPG (FTL) would also go up in that proportion. The 5kg FTL cylinders are mainly consumed by migrant labourers and students living on rent near educational institutions.
State-run OMCs often revise prices of petroleum products on the first of every month. They have kept prices of energy (regular petrol and diesel, and domestic LPG meant for cooking) consumed by common people unchanged despite a surge in international oil prices.
International oil prices spiked above $100 per barrel from around $70 amid the war in West Asia and particularly because of supply disruptions due to the closure of the Strait of Hormuz, the choke point used for the transportation of about one-fifth of energy globally.
