NEW DELHI: Domestic LPG prices have been increased by Rs 29 per 14.2kg cylinder, marking the second hike in the last three months. With the latest revision, the price of a 14.2-kg domestic LPG cylinder in Delhi has gone up to Rs 942 from Rs 913. The revised rates came into effect on June 7, news agency PTI reported, citing industry sources.The expected hike, the second in three months, comes amid continued strain on global oil and gas supplies due to the ongoing conflict in the Middle East.The upward revision will take effect nationwide, although the final retail price of a cylinder will vary from city to city owing to differences in local taxes and transportation costs.The rise in LPG prices comes at a time when several other fuels have also become more expensive. Initial reports during the first hike had indicated that the increase only partly compensated oil marketing companies for the losses they were incurring on the sale of domestic LPG.Petrol and diesel prices have been raised by a cumulative Rs 7.50 per litre since mid-May, while compressed natural gas (CNG) rates have gone up by around Rs 6 per kg.According to the report, despite these increases, oil companies are still selling petrol and diesel below their actual cost. They estimate losses of around Rs 11 per litre on petrol and Rs 33.6 per litre on diesel.The government has so far avoided passing on the entire increase in international fuel costs to consumers. Instead, a part of the burden has been absorbed by state-owned fuel retailers as global crude oil and fuel markets continue to remain volatile amid ongoing geopolitical tensions.
