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 increase follows an earlier hike of Rs 60 per cylinder on March 7, a revision that came after the conflict in West Asia disrupted global energy supplies and pushed up international fuel prices.Even after the previous price increase, state-run oil marketing companies were estimated to be losing around Rs 703 on every domestic LPG cylinder sold, the report said. The latest hike is expected to reduce some of that burden, although retailers are still facing significant cost pressures.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.
