With the Start of March 1, Inflation Strikes with a Price Hike
As March begins, consumers face yet another wave of inflation, with petroleum companies increasing the cost of 19 kg commercial gas cylinders. According to reports, Indian Oil Corporation (IOC) has raised the price by ₹6 per cylinder, with the revised rates taking effect immediately. However, there has been no change in the price of 14 kg domestic LPG cylinders. The rising cost of commercial cylinders puts additional financial pressure on hotels and restaurants, indirectly impacting consumers.
Increase in the Price of Commercial Cylinders
In Delhi, the cost of a 19 kg commercial LPG cylinder has now risen to ₹1,803 from ₹1,797 in February. Similarly, Kolkata has witnessed an increase, with the price reaching ₹1,913, compared to ₹1,907 last month. Mumbai now sees the cylinder priced at ₹1,755.50, up from ₹1,749.50 in February. In Chennai, a slight hike has raised the cost to ₹1,918.
Domestic LPG Cylinder Prices Remain Unchanged
Despite the hike in commercial cylinder rates, domestic 14 kg LPG cylinders have maintained stable pricing. The prices remain as follows:
- Delhi: ₹803
- Lucknow: ₹840.50
- Kolkata: ₹829
- Mumbai: ₹802.50
- Chennai: ₹818.50
Smaller Price Hike Compared to Previous Years
Compared to past years, the recent price increase for commercial cylinders has been relatively moderate. On March 1, 2024, prices saw a significant one-time hike of ₹26. Although there was a ₹7 reduction in February, the new increase of ₹6 has nearly offset the temporary relief.
Consumers and businesses alike must now adjust to the rising costs, with commercial LPG prices continuing to fluctuate based on market conditions.
