\In a move that could squeeze the profit margins of restaurants and hotels across India, oil marketing companies have announced a significant hike in commercial LPG gas cylinder prices, effective October 1, today. This marks the second consecutive month of price increases, putting pressure on businesses already grappling with rising operational costs.
Commercial LPG price hiked by Rs 48.50
According to official sources, the price of a 19 kg commercial LPG cylinder has jumped by Rs 48.50. In Delhi, the new price stands at Rs 1,740, up from Rs 1,691.50. This follows a Rs 39 increase implemented just last month on September 1.
The price revision doesn’t stop at the 19 kg variant. The 5 kg Free Trade LPG cylinders have also seen a Rs 12 uptick, further impacting smaller businesses and street food vendors who rely on these more compact units.
Will Commercial LPG price hike be challenging for business?
This latest hike paints a challenging picture for India’s vast hospitality sector. Restaurants, hotels, and catering services, still recovering from the pandemic’s economic fallout, now face the prospect of higher operating costs. The ripple effect could potentially reach consumers’ pockets as businesses may be forced to adjust their pricing to maintain viability.
However, it’s not all bad news on the home front. Domestic LPG cylinder rates remain unchanged, offering a silver lining to households already battling inflation in other sectors.
The commercial LPG price hike is part of a broader trend of fluctuating energy costs globally. Oil marketing companies adjust prices based on international benchmarks and exchange rates, making the LPG market a bellwether for broader economic trends.
