LPG Price Latest: Elections in five states including Uttar Pradesh, Punjab are over. Crude oil prices are at a 14-year high due to the fierce war between Russia and Ukraine. In such a situation, everyone is apprehensive that now from petrol-diesel to domestic LPG cylinders, inflation will be hit.
Till now, due to elections in 5 states including Uttar Pradesh, Punjab, the prices of LPG cylinders and petrol and diesel were getting relief for the last several months. The last phase of elections ended on 7th March and in the evening all exit polls show the return of Yogi government in Uttar Pradesh, Congress in Uttarakhand, AAP government in Punjab in some polls. There are projections of BJP forming the government in Goa and Manipur too, but amid these estimates, the fear of rising oil and gas prices is also starting to hit the house.
Today i.e. on March 8, 2022, the price of domestic LPG cylinder in Delhi is Rs 899.50. If we talk about Kolkata, then on March 1, 2021, the price of 14.2 kg non-subsidized cylinder was Rs 846 and today it is selling for Rs 926. Similarly, a domestic cylinder in Lucknow was available for Rs 857 a year ago and today it is available for Rs 938. In Patna it is Rs 998.
Domestic LPG cylinders have neither become cheaper nor costlier since 6 October 2021. However, during this period crude oil prices have crossed $ 102 per barrel. However, there was a significant change in the prices of commercial cylinders during this period. Let us tell you that between October 2021 to March 1, 2022, the price of commercial cylinder has increased by Rs 275, while between March 1, 2021 and 2022, the price of domestic LPG cylinder has increased by only Rs 81.
Cylinder will be costlier by Rs 100 to 200
There has been a relief for several months in the prices of non-subsidised gas cylinders for the assembly elections in five states. Despite crude oil prices crossing $138 per barrel, there has been no change in the price of domestic LPG cylinders from October 6, 2021. In such a situation, it is being feared that after the elections, that is, anytime now, the price of gas may increase by more than Rs 100 to 200 per cylinder.
Petrol and diesel prices may increase this week
Oil companies are now ready to make up for their losses after the global crude oil prices touched a 13-year record high of $140 per share despite no increase in fuel prices. Industry sources say petrol and diesel prices need to be hiked by Rs 15 per liter to reduce losses for fuel retailers. Significantly, India meets 85 percent of its crude oil requirement through imports. Oil prices have already risen by over 60 per cent this year and a weak rupee is adding to the trouble for the country.
