New Delhi, March 7: Oil companies have announced an increase in the prices of domestic and commercial gas cylinders. On Saturday, the price of a domestic gas cylinder rose by ₹60, while the commercial cylinder saw an increase of ₹114.5.
According to Indian Oil Corporation, the price of a 14.2 kg unsubsidized domestic LPG cylinder in New Delhi has been set at ₹913, up from ₹853. This marks the second price hike for domestic LPG cylinders in less than a year.
The commercial LPG cylinder prices have also increased by ₹114.5 per unit.
Experts attribute the recent surge in global energy prices to escalating military tensions in the Middle East. This conflict has impacted the energy market and raised concerns over the stability of global oil and gas supply routes.
The rise in LPG prices comes amid broader instability in the energy market, as crude oil prices have increased in recent weeks, alongside rising geopolitical tensions in the region.
Meanwhile, public sector oil companies have confirmed that there is sufficient stock of petrol and diesel, dispelling earlier rumors of shortages.
Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation Limited (IOCL) dismissed the rumors of fuel shortages as completely baseless.
BPCL stated in a post on X, “India’s energy supply remains reliable and robust, with ample petroleum reserves and an uninterrupted supply chain.” The company added, “There are unfounded rumors about shortages of petrol and diesel in some areas. There is no need for panic regarding fuel availability.”
Furthermore, BPCL emphasized its commitment to ensuring smooth fuel supply for all customers.
IOCL also stated that reports of petrol and diesel shortages circulating on social media are unfounded. The company reassured, “India has ample fuel stock, and supply and distribution are operating normally.”
In a post on X, IOCL wrote, “We are committed to maintaining uninterrupted fuel supply across the country. Citizens are urged not to panic and avoid crowding at fuel stations. Trust only official sources for accurate information.”
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