LPG Cylinder Prices: Major update for common people. Amid global challenges, domestic LPG cylinder prices may rise in the near future. Government sources say that due to rising crude oil prices, petrol and diesel prices may also rise in the future. According to reports, petrol and diesel prices may increase by 4 to 5 rupees. If this happens, petrol and diesel prices may increase for the first time in four years.
There may be an increase in prices in 5 to 7 days
According to a report in India Today, the government is expected to make a decision on petrol and diesel prices within the next five to seven days. Currently, there has been no discussion on increasing prices at the government level. Therefore, people are waiting for the time being.
Commercial LPG cylinders are becoming increasingly expensive
The government recently increased the price of commercial LPG cylinders. Following the May 1st increase, the price of a commercial LPG cylinder in Delhi has surpassed Rs 3,000. This is the third consecutive month of price increases. Over the past three months, the price of a commercial LPG cylinder has risen by 47 percent. Nayara and Shell India recently increased petrol and diesel prices. However, state-owned oil companies did not raise petrol and diesel prices at that time. However, premium petrol and diesel prices did increase. Petrol is currently selling at Rs 160 per liter in Delhi.
Why are prices rising?
The primary reason for this potential increase in fuel prices is the ongoing war in West Asia. The war has increased the fear of disruption to the crude oil supply chain, leading to significantly higher prices in the international market. State-owned oil companies (OMCs) are currently incurring significant losses by selling oil at the old rates. Rising expenses and a shortage of funds are making it increasingly necessary for the government to raise prices.
