LPG, CNG, PNG rates today, May 20: Check latest prices in Delhi, Mumbai, Chennai, other cities

LPG, CNG, PNG rates today: Concerns over a possible increase in LPG and PNG prices have grown after CNG rates were raised twice within a week in the national capital and petrol and diesel prices were also hiked. In Delhi and Mumbai, CNG prices were increased by Rs 2 per kg, followed by a further Re 1 per kg rise in Delhi. Petrol and diesel prices were also raised twice in a week, first by Rs 3 per litre each and then by 90 paise per litre.

The latest increases have come as fuel retailers face losses amid a surge in global crude prices linked to the conflict in West Asia and the blockade of the Strait of Hormuz. The route handles a significant share of global oil and gas shipments, and India imports a large part of its energy through it. The rise in energy prices has been calibrated to partly ease margin pressure on oil companies without causing a major inflationary shock, though industry sources said it would still have some impact on inflation.

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Even so, US President Donald Trump said oil prices are going to plummet and that the Iran war is going to end very quickly. "There's so much oil out there, they're going to come plummeting down. We're going to end that war very quickly,” he said at a press conference on Tuesday.

14.2 kg LPG cylinder rates on May 20

Commercial (19kg) LPG cylinder rates on May 20

CNG prices across major cities on May 20

PNG prices across major cities on May 20

The latest fuel price hike also came 16 days after Assembly elections ended in Assam, Kerala, Tamil Nadu and West Bengal. Prices had remained unchanged during the polling period despite a sharp rise in international oil prices triggered by the West Asia conflict. Energy prices had risen globally after the US-Israel attack on Iran on February 28 and Tehran's retaliation effectively closed the Strait of Hormuz, through which about one-fifth of the world's oil and gas passes. 

Domestic cooking gas LPG prices were raised in March by Rs 60 per cylinder, but they remain far below the actual cost. Oil companies are losing Rs 674 on each 14.2-kg cylinder of LPG. Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said the recent fuel price hike had cut losses by a fourth and that oil companies were still incurring losses of about Rs 750 crore a day.

As supply tightened and further price increases appeared unavoidable, Prime Minister Narendra Modi urged citizens to use fuel judiciously, reduce consumption, use public transport and work-from-home options more often, and conserve foreign exchange. He also asked people to defer gold purchases and postpone foreign travel for a year.