New Delhi, March 7
State-owned oil marketing companies (OMCs) on Saturday raised the prices of domestic and commercial LPG cylinders, with household cooking gas becoming costlier by Rs 60 and commercial cylinders by Rs 114.5, amid rising global energy prices linked to the ongoing conflict in the Middle East.
According to the Indian Oil Corporation, the price of non-subsidised domestic LPG used by most households has been increased to Rs 913 per 14.2-kg cylinder in New Delhi -- up from Rs 853 earlier.
This marks the second price hike in less than a year for domestic LPG cylinders.
Commercial LPG cylinders -- typically used by hotels, restaurants and other businesses -- have also seen an increase of Rs 114.5 per unit.
According to industry officials, the recent surge in global energy prices follows the escalation of military tensions in the Middle East.
The conflict has disrupted energy market sentiment and raised concerns over supply stability in key global oil and gas routes.
The rise in LPG prices comes amid broader volatility in energy markets, with crude oil prices climbing in recent weeks as geopolitical tensions intensify in the region.
Meanwhile, PSU oil marketing companies have also confirmed that fuel stocks remain adequate amid rumours of petrol and diesel shortages.
Both Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation (IOCL) on Friday dismissed rumours of fuel shortages, calling them “completely unfounded” and “baseless”.
In a post on its X handle, BPCL said India’s energy supply remains reliable and resilient, with ample petroleum reserves and uninterrupted supply chains.
“There have been some rumours about shortages of petrol and diesel in certain areas, which are completely unfounded,” the company said, adding that there is no reason to be alarmed about fuel availability.
“BPCL is fully operational and steadfast in ensuring a smooth fuel supply for all customers,” it added.
Meanwhile, IOCL said reports on social media suggesting a shortage of petrol and diesel are baseless.
“India has sufficient fuel stocks, and supply and distribution networks are functioning normally,” it said.
“IndianOil is committed to maintaining uninterrupted fuel supply across the country. Citizens are requested not to panic or crowd fuel stations and to rely only on official sources for accurate information,” the company added in a post on its X handle.
Shares of oil marketing companies Bharat Petroleum Corporation Limited and Indian Oil Corporation on Friday ended in the negative zone, with BPCL falling nearly 2 per cent to Rs 352.95 and IOCL declining about 2 per cent to Rs 168.10 on the National Stock Exchange of India.
