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Oil marketing companies raised the price of liquefied petroleum gas (LPG), by ₹50 per cylinder on Monday amid rising import prices.
The new LPG price in Delhi for a 14-kilogram non-subsidised cylinder now stands at ₹769. This price at the start of the year was ₹694, which had been last raised on February 4 to ₹719.
Pricing of LPG in India is determined using the import parity price formula based on prices in the international market. For the month of February, Saudi Aramco raised the prices of propane and butane, the two main components of LPG, by 10 per cent each from January. The February propane term contract price stands at $605 per metric tonne while butane stands at $585 per metric tonne.
Prices of petrol and diesel are also continuing their upward climb as oil-producing nations have cut supply, driving up crude prices in the international market. The retail selling price of petrol in Delhi on Monday reached ₹88.99 per litre and diesel ₹79.35.
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