Indian Oil Corporation, India’s largest state-owned refiner, announced in a statement that it has raised prices for industrial liquefied petroleum gas (LPG) and aviation fuel for foreign airlines, effective Friday.
The company said the price of a 19-kg commercial LPG cylinder, used by industrial customers, increased by 993 rupees (47.8%) to 3,071.5 rupees.
Meanwhile, the price of domestic LPG—primarily used for cooking—remained unchanged.
According to the company, aviation fuel prices for domestic airlines were also left unchanged.
These price hikes come amid a sharp rise in global oil prices, with crude exceeding $100 per barrel following the closure of the Strait of Hormuz, a vital route for Gulf oil shipments.
Reuters
