LPG Price Today: Cylinder prices remained stable on March 24th, but the Hormuz crisis has increased the threat to supply. Find out the latest domestic and commercial gas prices in your city and what’s expected next.
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LPG Price Today, March 24: Domestic and commercial LPG cylinder prices across the country remained unchanged today, March 24. However, ongoing tensions in West Asia and the crisis in the Strait of Hormuz are raising concerns about gas supply.
War impacts gas supplies, increasing pressure on India
The ongoing conflict in the Middle East is now clearly impacting energy supplies. India imports approximately 60-65% of its LPG needs, with approximately 90% of these supplies coming through the Strait of Hormuz. Despite reports of shortages in some areas, the government has assured that the country currently has sufficient stocks and consumers need not panic.
Domestic consumers prioritized, commercial supplies limited
To manage the situation, the government has brought LPG under the Essential Commodities Act of 1955. Under this, domestic consumers are given priority, while commercial supplies are limited to approximately one-fifth of their needs. This move aims to ensure that common people’s kitchens are not affected.
Prices increased on March 7
LPG cylinder prices were increased in early March. Domestic cylinders (14.2 kg) became costlier by ₹60, and commercial cylinders (19 kg) by ₹115. Prices have remained unchanged since then.
Today’s LPG cylinder rates in major cities across the country
New Delhi: Domestic ₹913 | Commercial ₹1,884.50
Mumbai: Domestic ₹912.50 | Commercial ₹1,836
Kolkata: Domestic ₹939 | Commercial ₹1,988.50
Chennai: Domestic ₹928.50 | Commercial ₹2,043.50
Hyderabad: Domestic ₹965 | Commercial ₹2,105.50
Lucknow: Domestic ₹950.50 | Commercial ₹2,007
Bengaluru: Domestic ₹915.50 | Commercial ₹1,958
Patna: Domestic ₹1,002.50 | Commercial ₹2,133.50
The government is taking several steps to strengthen gas supply. It is rapidly approving urban gas projects. Along with promoting PNG (piped gas), it has also directed that CGD projects be approved within 10 days. The government also wants to reduce the dependence on LPG for commercial use in major cities.
Preparations to Increase LPG Stocks
Currently, oil companies only hold 2–3 days of stock, which could prove to be a weakness in times of crisis. The government is now working on plans to increase long-term stocks and build cavern storage (underground storage).
India Exploring New Import Options
To secure LPG supplies, India is now working to increase imports from countries like the United States and Canada. Indian Oil Corporation recently signed an agreement to import LPG from the United States, which will represent approximately 10% of its total imports.
Will cylinder prices become more expensive in the future?
Experts believe that if the war continues and supplies are disrupted, pressure on LPG prices could increase in the future. Prices are currently stable, but the market is now closely monitoring global conditions.
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