LPG price hike: After fuel, domestic cylinders price increased by Rs 50

Domestic LPG cylinder prices have increased by Rs 50 as of today, the first increase since October 6, 2021. Because of elections in five states, including Uttar Pradesh and Punjab, the rates of LPG cylinders, petrol, and diesel were not raised,  political analysts said.

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The price of domestic LPG cylinders has been increased to Rs 949.5 in Delhi; earlier it was Rs 899.50. In Kolkata, on October 6, 2021, the 14.2 kg non-subsidized cylinder price was Rs 926; now, it will cost Rs 976. Similarly, the price in Lucknow has increased to Rs 987.5 from Rs 938. In Patna, it has increased from Rs 998 to Rs 1039.5.

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The 5 kg LPG cylinder will now cost Rs 349 while the 10 kg composite bottle will come for Rs 669 and the 19 kg commercial cylinder costs Rs 2003.50.

Earlier today, the government raised petrol and diesel prices by over 80 paise a litre after 137 days. The price of petrol in the country’s capital Delhi is Rs 96.21 per litre today while that of diesel is Rs 87.47 per litre. In Mumbai, petrol and diesel prices have increased to Rs 110.82 a litre and Rs 95.00 a litre, respectively. As for Kolkata and Chennai, petrol and diesel cost Rs 105.51 and Rs 90.62 and Rs 102.16 and Rs 92.19, respectively.

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Crude oil futures extended gains on Tuesday on reports that some European Union members are considering slapping sanctions on Russian oil, as well as attacks on Saudi oil facilities.

Front-month West Texas Intermediate futures rose $2.21, or 1.97%, to $114.33 a barrel on the New York Mercantile Exchange, while Brent futures rose $2.51, or 2.26%, to $118.23 a barrel on the Intercontinental Exchange.

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On Monday, both futures had settled up more than 7% as the prospect of further supply interruptions weighed on the market.

Gold was priced at $1,931.91 per oz in global markets while silver and palladium were trading at $25.20 and $2,564.19, respectively.