New Delhi, May 1: Commercial LPG prices have been sharply hiked by Rs 993 for 19-kg cylinders, even as the government kept domestic LPG, petrol and diesel rates unchanged amid global volatility linked to Iran tensions.

With the latest revision, commercial LPG cylinders in Delhi now cost Rs 3,071.50, up from Rs 2,078.50, while in Mumbai prices have risen to Rs 3,024 from Rs 2,031.

Third Hike Since February
This marks the third increase since late February, when prices were first raised by Rs 144 in March, followed by another hike of around Rs 200 on April 1. The cumulative rise is expected to significantly impact restaurants, eateries and small businesses dependent on commercial cooking fuel.

Relief for Households
Despite the surge in commercial LPG rates, domestic LPG prices have been left unchanged, offering relief to households. Retail prices of petrol and diesel also remain steady, even as crude oil prices hover above $120 per barrel globally.

Pressure on Oil Companies
State-run oil marketing firms -- Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum -- are reportedly facing mounting under-recoveries due to high input costs. Reports indicate losses running into thousands of crores as companies continue selling fuels below market-linked rates.

Aviation Fuel Unchanged
In a parallel decision, aviation turbine fuel (ATF) prices for domestic airlines have also been kept unchanged, providing relief to the aviation sector.

New LPG Rules from May 1
From May 1, new LPG booking norms have come into effect. Urban consumers can now book a refill only after 25 days, up from the earlier 21-day gap, while in rural areas, the interval has been extended to up to 45 days.

Additionally, the Delivery Authentication Code (DAC) system has been made mandatory. Consumers must now provide an OTP sent to their registered mobile number at the time of delivery, replacing earlier verification methods.

Also Read: Rupee Slumps to All-Time Low against Dollar as Oil Prices Soar

Balancing Act Continues
The government faces a delicate balance between controlling inflation and easing financial pressure on oil companies, as prolonged global tensions continue to disrupt energy markets.