The prices of 14.2 kg coking gas LPG cylinders remained steady at Rs 913. However, the commercial cylinder witnessed a price hike on April 1 due to a 44 percent increase in the Saudi Contract Price.
LPG, PNG Prices Today: United States President Donald Trump has extended the ceasefire after the request of Pakistan to hold the strikes until Iranian leaders ‘come up with a unified proposal’. He said that the ceasefire has been extended until Iran’s ‘proposal is submitted, and discussions are concluded, one way or the other.’ US Vice President JD Vance’s scheduled visit to Islamabad for the second round of peace talks has also been suspended after Tehran did not respond to the proposals. Iran said that it has not decided whether to resume peace talks with Washington or not. However, the US would continue to blockade Iranian ports. The development has again escalated tensions in West Asia. The decision will impact the crude oil and LPG gas supply. The domestic LPG price remained unchanged at Rs 913 on Wednesday despite major developments. However, OMCs increased the commercial LPG prices by Rs 195.50 per cylinder on April 1 due to a rise in global crude oil rates.
It is to be noted that India imports 40 percent of its crude oil and 90 percent of its LPG gas from the Middle Eastern countries through the Strait of Hormuz. This makes the country vulnerable to regional disruptions. Notably, prices of commercial LPG increased due to a 44 percent rise in the Saudi Contract Price as it surged from USD542 per tonne in March to USD780 per tonne in April.
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