After the commercial cylinders, the oil marketing companies hiked prices for domestic LPG gas cylinders. This is the first hike in the prices, since July 2022.
According to sources, the hike of Rs. 50 per 14.2 kg cylinder, would be in effect from the 1st of March, 2023. The hike in prices came after the information provided by the Indian Oil Corporation (IOC.)
With this price increase, in effect from March 1, a 14.2-kg domestic LPG cylinder has been priced at Rs. 1,103 in Delhi, Rs. 1,102.50 in Mumbai, Rs. 1,129 in Kolkata and Rs. 1,118.50 in Chennai. In Hyderabad, the price for the domestic gas cylinder is now at Rs. 1,105.
OMCs suffered heavy losses on the sale of these fuels as they were selling below global prices. In October, the Centre gave a one-time special grant of Rs 22,000 crore to the three companies to compensate them for their losses on domestic LPG sales.
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