India raises cooking gas prices as Iran war hits supply
By Nidhi Verma
NEW DELHI, March 7 (Reuters) - Indian companies have raised the prices of liquefied petroleum gas, mostly used as a cooking fuel, for the first time in about a year, as global prices surge with the U.S.-Israel war on Iran disrupting supplies from the Middle East.
Indian Oil Corp, the country's top refiner and LPG seller, has increased the prices of a 14.2-kg LPG cylinder in Delhi by 7% to 913 rupees ($9.93), according to its website.
State refiners IOC, Bharat Petroleum Corp BPCL.NS and Hindustan Petroleum Corp HPCL.NS raised prices in tandem.
India, the world's second-biggest importer of LPG, last year consumed 33.15 million metric tons of cooking gas, a mixture of propane and butane, with imports accounting for about two-thirds of LPG consumption. Middle Eastern LPG accounts for 85% to 90% of those imports.
India on Friday asked refiners to boost LPG production to avoid any shortage of cooking gas in the country.
Indian companies have also raised the prices of 19-kg commercial LPG cylinders, mainly used by hotels and restaurants, to 1,883 rupees from 1,768.50 rupees.
($1 = 91.9280 Indian rupees)
Related Articles
Holding Dollars Instead of Gold in Chaotic Times: Is It Gold’s Twilight or the Dollar’s Last Radiance?
TradingKey - Following the escalation of the U.S.-Iran conflict, gold (XAUUSD) should have been the primary choice for safe-haven capital based on conventional market reactions to geopolitical instability. However, after surging to $5,400/oz, gold quickly retreated below the $5,000 mark and has since largely oscillated around $5,100. Meanwhile, the U.S. dollar, which had been consistently weakening, instead experienced a rally.
Is the Market No Longer ‘Buying Asia’? Why Asian Stocks Face Selloff Amid US-Iran Conflict While US Stocks Become a Safe Haven?
Has the "Sell US, Buy Asia" trade, once prevalent at the beginning of the year, now become obsolete? Will the U.S.-Iran conflict fundamentally reverse the robust 2026 rally in emerging markets?
Is the Market No Longer ‘Buying Asia’? Why Asian Stocks Face Selloff Amid US-Iran Conflict While US Stocks Become a Safe Haven?
Has the "Sell US, Buy Asia" trade, once prevalent at the beginning of the year, now become obsolete? Will the U.S.-Iran conflict fundamentally reverse the robust 2026 rally in emerging markets?Investing in GameStop 2026: Holding Company Transformation or Just More Hype?
Although GameStop still has physical stores, it is predominantly looking to buy/build out new businesses that can expand more quickly than it is shrinking traditional video game retail stores, which are going to disappear.
It’s Not Gold Soaring; It’s Paper Money Shrinking: Measuring Gold with Five Real-World Yardsticks
TradingKey – Want to know where gold’s true level really is? This article measures it against stocks, the US dollar, housing, oil and even burgers to show where its price really stands today.
