LPG cylinder price hiked by ₹25

Public sector oil marketing companies raised the price of LPG cylinders by ₹25 on Thursday, bringing the total hike just in February to ₹100. A 14.2-kg cylinder is now priced at ₹794 in Delhi and Mumbai. At the start of the month, the price stood at ₹694.

The retail price was hiked on February 4 by ₹25, and again on February 15 by ₹50.

Global factor

The price of LPG cylinders is officially linked to international prices of propane and butane, the two main ingredients. The price of these crude products has been rising as oil producing nations have restricted supply while demand picks up as economies reopen after Covid-19.

LPG prices up by ₹50 per cylinder

In December last year too, oil marketing companies had hiked in price of LPG cylinders by ₹25.

Rising prices have dampened demand for the essential fuel. Consumption of LPG in January registered a 2 per cent drop on a month-on-month basis, with demand at 2.492 million tonnes.

MOL Group to transport LPG on National Waterways

Prices of diesel and petrol, also linked to international crude prices, have risen throughout January and February to reach all-time highs.