A large portion of India, the world's most populous country, uses gas as the fuel for cooking.
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India on Friday raised the price of commercial liquefied petroleum gas (LPG) and jet fuel for international airlines as supply pressure from the Iran war mounts, a state-run energy company said.
India is heavily dependent on imported energy. India imports about 60 percent of its liquefied petroleum gas (LPG) from abroad. The gas is the fuel used by a large part of the world's most populous country for cooking.
With imports being disrupted since the outbreak of the Middle East war in late February, New Delhi has taken steps to ensure that households and essential sectors have adequate supplies, leaving many restaurants, manufacturers and power plants stranded.
The government has said India is not facing an overall fuel shortage. State-run Indian Oil Corporation Limited (IOCL) said the price of LPG cylinders used for bulk and commercial purposes has been revised.
The price of a 19-kg gas cylinder for commercial use has been fixed at 993 Indian rupees ($10.50), according to the IOCL price schedule. This means that the price of gas has increased by about 48 percent in the capital, New Delhi. Rates vary from city to city due to local taxes.
The sharp increase will hit restaurants particularly hard, many of which have already reduced services during the Middle East war. The Indian oil company said that the price of jet fuel for international flights has also been adjusted. Aviation fuel (ATF) has increased by about 5 percent in Delhi, according to the IOCL schedule.
