New Delhi: State-owned oil firms raised LPG prices on Saturday amid Middle East conflict-driven global energy surges: household 14.2-kg cylinders now cost Rs 913 in Delhi (up Rs 60 from Rs 853), the second hike in under a year. Commercial cylinders jumped Rs 114.5 per unit.
Industry sources link the rise to disrupted oil-gas routes and volatile crude prices from regional tensions.
OMCs dismissed petrol-diesel shortage rumours as "baseless." BPCL posted on X: "There have been some rumours about shortages of petrol and diesel in certain areas, which are completely unfounded. BPCL is fully operational and steadfast in ensuring a smooth fuel supply for all customers." IOCL echoed: "India has sufficient fuel stocks, and supply and distribution networks are functioning normally."
Shares dipped Friday: BPCL fell 2% to Rs 352.95, IOCL 2% to Rs 168.10 on NSE.
(Inputs from IANS)