LPG price today: Cost of commercial and domestic cooking gas in Delhi, Mumbai, Kolkata, other cities amid crude surge
As of today, the price of LPG has remained stable in several major Indian cities, following a recent
LPG Price Today: Updated Rates in Delhi, Mumbai, Kolkata, and Other Major Cities
Theindiapostdaily.com – As of today, the price of LPG has remained stable in several major Indian cities, following a recent adjustment by Oil Marketing Companies (OMCs). The 19-kg commercial Liquefied Petroleum Gas (LPG) cylinder rate saw a reduction earlier this month, but the current prices in Delhi, Mumbai, and Kolkata show no significant change. For domestic consumers, the 14.2-kg cooking gas rates stayed the same after a previous hike in mid-June. This stability comes amid fluctuating global crude oil prices, which have impacted fuel markets across the country.
The latest price revisions reflect the OMCs’ monthly adjustments to LPG prices, which are closely tied to the Official Selling Price (OSP) of Saudi Aramco and international market trends. On 1 July, commercial LPG prices dropped by ₹183.50, bringing the revised rates to ₹2,930 in Delhi, ₹2,885.50 in Mumbai, and ₹3,081.50 in Kolkata. Additionally, the Free Trade LPG (FTL) cylinder, commonly known as Munna or Chhotu, experienced a ₹13 reduction, now priced at ₹808.50 for the 5-kg variant. These changes have been welcomed by consumers, though the ongoing crude oil surge continues to cast a shadow over future price trends.
Geopolitical Factors Influence LPG Price Stability
The recent price cuts in LPG were driven by eased geopolitical tensions in West Asia, which had previously disrupted oil markets. The conflict between the US and Iran, escalating since early February, caused global energy supply concerns and contributed to higher oil prices. However, after renewed fighting and a subsequent US strike on Iran, the situation has shown some signs of de-escalation. This has allowed OMCs to lower prices for commercial and domestic LPG, offering temporary relief to households and businesses.
Oil prices have surged in recent weeks, with Brent crude reaching $76.03 a barrel in Asian morning trade, according to Reuters. The rise in crude oil costs is expected to influence LPG prices in the coming months, particularly as the US-Iran conflict continues to impact regional stability. While the current LPG price today remains steady, market analysts caution that fluctuations in the global oil market could lead to further adjustments in the near future.
Consumer Impact and Fuel Consumption Trends
Despite the recent price reductions, the ongoing LPG price today remains a topic of discussion among consumers. The 19-kg commercial cylinder rate, which was cut for the first time this year on 1 July, has not yet seen a reversal in its downward trend. Meanwhile, the 14.2-kg domestic cylinder rates have remained unchanged since the 7 June price hike, which marked the second increase since the outbreak of the US-Iran war in February. This stability in domestic rates has provided some relief to households, though the cost of cooking gas continues to be a concern for low-income families.
“Fuel consumption in India dropped by 3.7% in June compared to May, according to the Petroleum Planning and Analysis Cell (PPAC).”
The PPAC data highlights a decline in overall fuel usage, with LPG consumption falling more than 14% year-on-year to 2.19 million metric tons. Gasoline sales dipped 3.2% from May but increased 7.4% compared to June 2022, while diesel consumption rose 6.2% year-on-year but fell 1.4% month-on-month. These trends underscore the challenges of maintaining a balance between supply, demand, and rising crude oil costs, which are directly linked to the LPG price today in both urban and rural areas.
Market Reactions and Future Outlook
The recent price adjustments have been met with mixed reactions. While some consumers have benefited from the lower commercial LPG rates, the overall cost of living remains a pressing issue. The largest private fuel retailer, Nayara Energy, also slashed petrol and diesel prices, marking the first such reduction in over two years. This move has further stabilized fuel markets, but the LPG price today is still influenced by global factors, including currency fluctuations and geopolitical developments.
Looking ahead, the Indian government and OMCs are closely monitoring the situation to ensure affordability for both domestic and commercial users. Analysts suggest that the LPG price today may remain volatile until the geopolitical tensions in the Middle East subside and the global oil market stabilizes. Until then, consumers are advised to track the latest updates from their local OMCs to stay informed about potential changes in the near future.
