Prices of commercial LPG cylinders witnessed a steep increase across the country on Thursday, triggering concern among traders and the hospitality sector.
Oil marketing companies, which revise prices based on international crude trends as permitted by the Central government, announced a sharp hike in the rates of 19 kg commercial cylinders.
In Delhi, the price of a commercial cylinder has been increased by Rs. 993, taking the new rate to Rs. 3,071.50.
In Chennai, the price has gone up by Rs. 990.50, with cylinders now retailing at Rs. 3,237.
Despite the significant rise in commercial cylinder prices, domestic LPG cylinder rates remain unchanged.
Traders expressed shock over the sudden spike, especially at a time when supply has reportedly been affected due to tensions in West Asia.
The hotel and restaurant sector, already facing challenges due to cylinder shortages, is expected to be further impacted.
With input costs rising, there are concerns that food prices in hotels and eateries may increase further, adding to the burden on consumers.
Commercial Cylinder prices surge sharply
Must Read
PSG Tech hosts International Conference on construction materials and structures
As part of its Platinum Jubilee celebrations marking 75 years of academic excellence and service to society, the Department of Civil Engineering of PSG...
