NEW DELHI: India on Friday raised the prices of commercial liquefied petroleum gas (LPG) and jet fuel for international airlines, according to Indian Oil Corporation Limited, as supply pressures from the Middle East war continue to mount.
The South Asian nation remains heavily dependent on imported energy, including for roughly 60 per cent of its LPG — the fuel widely used for cooking by a large segment of its population, the largest in the world.
Since the Middle East war began in late February, imports have been disrupted, prompting New Delhi to prioritise supplies for households and essential sectors. This has left many restaurants, manufacturers and power plants facing difficulties.
Despite the disruptions, the government has maintained that India is not facing an overall fuel shortage.
“Prices of bulk and commercial LPG cylinders have been revised,” Indian Oil Corporation Limited, the country’s leading energy marketing company, said.
According to IOCL’s price chart, the cost of a 19-kilogramme LPG cylinder for commercial use has increased by 993 rupees (about $10.50).
This marks a nearly 48 per cent rise in the capital, New Delhi, though local levies mean that rates vary across different cities.
The sharp increase is expected to hit restaurants particularly hard, many of which have already been scaling back operations during the ongoing Middle East war.
The company also said that the price of jet fuel for international airline operations has “been adjusted upward”.
Aviation turbine fuel (ATF) prices have risen by around 5 per cent in Delhi, according to IOCL’s latest catalogue.