LPG Price Surge in India amid Global Supply Disruptions
Indian companies have increased LPG prices in response to global supply disruptions caused by geopolitical tensions. With India heavily reliant on Middle Eastern LPG imports, the government has urged refiners to boost domestic production to avoid shortages. Commercial LPG cylinders have also faced price hikes impacting businesses.
Amid escalating global tensions, Indian companies have responded to supply disruptions by hiking liquefied petroleum gas (LPG) prices for the first time in a year. This decision comes as the conflict involving the U.S., Israel, and Iran affects supply chains.
Indian Oil Corp, the nation's leading refiner, has raised the cost of a 14.2-kg LPG cylinder in Delhi by 7%, now priced at 913 rupees. Other state refiners like Bharat Petroleum and Hindustan Petroleum have followed suit.
As one of the world's largest LPG importers, India's dependency on the Middle East for 85% to 90% of its imports has spurred the government to direct refiners to increase LPG production to preempt shortages, with prices of commercial cylinders also seeing an upswing.
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