India's Oil Prices Hike Amid Escalating US-Iran Tensions

Oil marketing companies in India have increased the prices of LPG (Liquefied Petroleum Gas) and PNG (Piped Natural Gas), citing rising international rates. The increase comes as tensions between the US and Iran continue to escalate, affecting imports of natural gas and crude oil via the Strait of Hormuz.

Indraprastha Gas Limited (IGL) announced a hike in Compressed Natural Gas (CNG) prices by Rs 3.89 per kg. In Delhi, where IGL operates, the revised price stands at Rs 86.98 per kg, while in Noida and Ghaziabad it will be Rs 95.59 per kg.

The prices of LPG cylinders have also increased, with a 14.2 kg cylinder costing between Rs 942 and Rs 968 in different cities. The commercial (19kg) LPG cylinder rates range from Rs 2,378 to Rs 2,985.