India raises cooking gas prices as Iran war hits supply
Indian companies have raised the prices of LPG, mostly used as a cooking fuel, for the first time in about a year, as global prices surge with the US-Israel war on Iran disrupting supplies from the Middle East, Reuters reports.
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 7pc to 913 rupees ($9.93), according to its website.
State refiners IOC, Bharat Petroleum Corp and Hindustan Petroleum Corp 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 85pc to 90pc of those imports.
