Mumbai, March 24: LPG prices remain unchanged today, March 24, across the country. However, rising tensions in West Asia and the ongoing crisis in the Hormuz Strait have heightened concerns about gas supply.
The impact of the ongoing conflict in the Middle East is becoming evident on energy supplies. India imports approximately 60-65% of its LPG needs, with nearly 90% of this supply passing through the Hormuz Strait. Despite reports of shortages in some areas, the government assures that there is currently sufficient stock available, and consumers need not panic.
The government has prioritized domestic consumers by placing LPG under the Essential Commodities Act of 1955. This move limits commercial supply to about one-fifth of their needs, ensuring that the general public’s cooking needs are not affected.
Earlier this month, on March 7, LPG cylinder prices were raised. The domestic cylinder (14.2 kg) saw an increase of ₹60, while the commercial cylinder (19 kg) rose by ₹115. Since then, prices have remained stable.
Here are the current LPG cylinder rates in major cities:
– Mumbai: Domestic ₹912.50 | Commercial ₹1,836
– New Delhi: Domestic ₹913 | Commercial ₹1,884.50
– Kolkata: Domestic ₹939 | Commercial ₹1,988.50
– Chennai: Domestic ₹928.50 | Commercial ₹2,043.50
– Hyderabad: Domestic ₹965 | Commercial ₹2,105.50
– Lucknow: Domestic ₹950.50 | Commercial ₹2,007
– Bengaluru: Domestic ₹915.50 | Commercial ₹1,958
– Patna: Domestic ₹1,002.50 | Commercial ₹2,133.50
The government is taking steps to strengthen gas supply by fast-tracking urban gas projects. It aims to promote PNG (Piped Natural Gas) and has directed that CGD projects be approved within ten days. Additionally, there is a push to reduce reliance on LPG for commercial use in major cities.
Currently, oil companies maintain only a 2-3 day stock, which could be inadequate during a crisis. The government plans to increase long-term stockpiling and develop cavern storage (underground storage) facilities.
To secure LPG supply, India is also exploring new import options from countries like the United States and Canada. The Indian Oil Corporation has recently signed an agreement to import LPG from the U.S., which will account for about 10% of total imports.
Experts suggest that if the conflict persists and supply disruptions continue, LPG prices may come under pressure in the future. While prices are stable for now, market attention is focused on global conditions.
My name is Ganpat Singh Choughan. I am an experienced content writer with 7 years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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