Desk Correspondent , New Delhi - Commercial LPG cylinder prices saw a record hike of ₹993 on Friday, marking the third consecutive monthly increase as global energy markets react to the ongoing West Asia conflict. Effective May 1, a 19-kg commercial cylinder in Delhi now costs ₹3,071.50, up from the previous rate of ₹2,078.50. This latest revision brings the total price increase to ₹1,303 over the last three months, following smaller hikes in March and April.

The steep rise is attributed to state-run oil marketing companies aligning domestic rates with international benchmarks. Global crude oil prices have surged nearly 50% recently due to supply chain disruptions in the Strait of Hormuz. While the hike significantly impacts the hospitality and industrial sectors, the Indian Oil Corporation (IOC) noted that these commercial segments account for less than 1% of total consumption. Consequently, the broader economic impact may be contained within specific industries.

In contrast, domestic LPG rates remain unchanged, providing relief to approximately 33 crore household consumers. The price of a 14.2-kg domestic cylinder stays at ₹913 in Delhi, having last been revised in March. While petrol and diesel prices also remain steady, the commercial gas hike varies across cities due to local taxes; Kolkata now faces the highest rate at ₹3,355 per cylinder, followed by Patna at ₹3,369 and Chennai at ₹3,259.50.