Brent crude oil prices have reached an alarming $108 per barrel, causing oil marketing companies (OMCs) to incur losses of ₹24 per litre on petrol and ₹30 per litre on diesel. This situation has forced OMCs to reconsider their pricing strategies in light of these unsustainable losses.

The backdrop of this crisis is rooted in the stability of petrol and diesel prices in India since April 2022. Despite rising global crude oil prices, the Indian government previously reduced excise duty by ₹10 per litre, which has led to a significant revenue loss of approximately ₹1.7 lakh crore annually. This decision was aimed at cushioning consumers from the shocks of inflation but has now put OMCs in a precarious position.

Key statistics:

• Petrol and diesel prices are expected to rise by ₹2 to ₹4 per litre soon.
• Brent crude oil is currently priced at $108 per barrel.
• OMCs are losing ₹24 per litre on petrol and ₹30 per litre on diesel.
• LPG consumption in India fell by 16.16% in April 2026, totaling 2.2 million tonnes.

The decline in LPG demand—down by over 16%—adds another layer of complexity for OMCs as they navigate this turbulent market. A senior official remarked, “We cannot keep prices unchanged when there are supply issues. At some point, we have to make adjustments according to market conditions.” This sentiment echoes the broader understanding that price adjustments are inevitable given the financial strain on OMCs.

The government is poised to announce these price increases shortly after the election results, making it a critical moment for consumers and stakeholders alike. As officials prepare for this change, no specific timeline has been shared regarding when exactly these adjustments will take effect.

The average price of a 19-kg LPG cylinder in Delhi has skyrocketed to ₹3,071.50, further illustrating the impact of rising fuel costs on everyday life. With inflation already a concern, these impending increases could exacerbate financial pressures for many households across India.

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Bharat Petroleum Corporation Limited (BPCL) has made significant changes to its Board of Directors, appointing Vedveer Arya as an Additional Director. This appointment comes as Sushma Agarwal completes her tenure as an Independent Director at the company.

Vedveer Arya’s appointment is effective immediately and is set for a three-year term or until further orders. Currently, Arya serves as the Additional Secretary and Financial Advisor in the Ministry of Petroleum and Natural Gas. He is a 1997 batch officer of the Indian Defence Accounts Service (IDAS) and holds a Master’s degree from the University of Delhi.

Arya has an extensive background in government service, having held senior positions, including Joint Secretary and Additional Financial Adviser at the Ministry of Defence. His experience includes working on the Agni Missile project and other tactical missile systems at the Defence Research and Development Organisation (DRDO). Notably, he is not debarred from holding the office of director by the Securities and Exchange Board of India (SEBI) or any other authority.

In compliance with SEBI regulations, BPCL is required to disclose board changes to BSE Limited and the National Stock Exchange of India. This transparency is crucial for maintaining investor confidence and regulatory compliance.

In a related context, the Ministry of Petroleum and Natural Gas has recently directed refiners to prioritize Liquefied Petroleum Gas (LPG) production amid ongoing supply issues. BPCL is one of the three state-run oil marketing companies responsible for domestic LPG distribution in India, alongside Indian Oil Corporation and Hindustan Petroleum Corporation.

G Krishnakumar, a spokesperson for BPCL, emphasized the need for increased LPG sourcing in light of the current geopolitical climate, stating, “We need to look for more sources of LPG in the wake of the West Asia conflict.” He noted that government initiatives like the Pradhan Mantri Ujwala Yojana (PMUY) have significantly shifted consumption patterns, moving millions of households from traditional cooking fuels to LPG.

However, Krishnakumar acknowledged the challenges involved, saying, “However, it is a long-term process not easy.” He also highlighted that the streams of LPG produced must be supplied exclusively to the three state-run oil marketing companies, ensuring a stable supply chain for domestic consumers.

As BPCL navigates these changes and the broader challenges in the energy sector, observers will be watching closely to see how Arya’s leadership will influence the company’s strategic direction and operational efficiency in the coming years.

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Oil marketing companies have increased the prices of non-subsidised domestic LPG gas cylinders by 60 rupees across metropolitan cities in India. The price for a 14.2 kilogram gas cylinder in Delhi has been raised from 853 rupees to 913 rupees.

The new rates for LPG cylinders in other major cities include 912.50 rupees in Mumbai, 939 rupees in Kolkata, and 928.50 rupees in Chennai. Additionally, the rates of commercial LPG gas cylinders have seen an increase of 115 rupees.

Context of the Price Hike

The revised prices of LPG gas cylinders have come into effect from today. This price hike follows a previous increase on March 7, 2026, when the price of domestic cooking gas was also raised by 60 rupees per cylinder.

Observers attribute the recent price hikes to increased energy prices, which have been influenced by ongoing conflicts in West Asia. This situation has raised concerns regarding the stability of energy supplies and pricing in the region.

Future Expectations

As the situation evolves, consumers and industry experts are closely monitoring the market for further changes in LPG prices. Details remain unconfirmed regarding any potential future adjustments or government interventions in response to these increases.

The post Lpg gas price appeared first on bangalinews.

Oil marketing companies have increased the prices of non-subsidised domestic LPG gas cylinders by 60 rupees across metropolitan cities in India. The price for a 14.2 kilogram gas cylinder in Delhi has risen from 853 rupees to 913 rupees.

In Mumbai, the new rates for LPG cylinders will be 912.50 rupees, while in Kolkata, the price has been set at 939 rupees. Chennai residents will now pay 928.50 rupees for the same cylinder.

Additionally, the rates for commercial LPG gas cylinders have also seen an increase, rising by 115 rupees. These revised prices have come into effect from today.

This price hike is attributed to increased energy prices due to the conflict in West Asia, which has impacted global oil markets.

Notably, this is not the first increase in recent times; the price of domestic cooking gas was previously hiked by 60 rupees per cylinder on March 7, 2026. Such adjustments reflect ongoing volatility in energy costs.

As consumers adjust to these new rates, observers are closely monitoring the situation for any further changes, especially given the current geopolitical tensions affecting energy supplies. Details remain unconfirmed regarding potential future adjustments in LPG pricing.

The post Lpg gas price appeared first on bangalinews.