LPG Price Hike: Tensions are increasing in Middle East countries. Iran and Israel rapidly have been involved in geo political tension for singnificant amount of time. The extent of Iran’s conflict with Israel and the United States is broadening. The situation is anticipated to deteriorate in the upcoming days.
In this context, numerous concerns are being raised regarding India’s energy security. Specifically, there are questions about whether the costs of petrol, diesel, or LPG cylinders will increase. This concern is heightened by the fact that the price of Brent crude, the global oil standard, has exceeded $80 per barrel. This marks an increase of about 10 percent compared to the levels prior to the onset of the Iran crisis.
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In light of the intensifying military conflict in West Asia, the government is assessing the current fuel situation, including LPG. On Monday, Petroleum Minister Hardeep Singh Puri held discussions regarding crude oil, LPG, and other petroleum products with senior officials from his ministry and public sector companies. Reports suggest that retail fuel prices are not expected to rise immediately.
Since April 2022, retail prices for petrol and diesel have remained unchanged. Companies in the petroleum sector, such as Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL), face losses when prices are elevated and gain profits when rates are lower. With assembly elections on the horizon in significant states like West Bengal, Tamil Nadu, and Assam, the government is keen to avoid any issues that the opposition could leverage.
How much reserve does India have?
According to energy market analysis firm Kpler, India has crude oil reserves sufficient to meet approximately 40-45 days of oil supply disruptions through the Strait of Hormuz. According to Kpler, India holds approximately 100 million barrels of commercial crude oil. This includes stocks held by refineries, underground Strategic Petroleum Reserves (SPRs), and oil loaded on ships arriving in the country.
India imports approximately 88 percent of its crude oil needs. More than half of this total import comes from West Asia, and a significant portion passes through the Strait of Hormuz. On average, India imports approximately 5 million barrels of crude oil daily, of which approximately 2.5 million barrels come through the Strait of Hormuz.
LPG cylinder prices
It should be noted that the price of a 14.2-kg domestic LPG cylinder has remained unchanged since April 8, 2025. Its price remains stable at Rs 853 in Delhi, Rs 879 in Kolkata, Rs 852.50 in Mumbai, and Rs Rs 868.50 in Chennai. However, effective March 1, oil marketing companies have increased the price of commercial LPG cylinders.
