Bengaluru: The Karnataka State Hotels Association (KSHA) has urged the Central government to reduce the price of commercial LPG cylinders to the levels prevailing in February this year, following the recent decline in global crude oil prices.
G.K. Shetty, President of KSHA, said in a release that in February, commercial LPG cylinders were priced at around ₹1,800. However, after dealer discounts, hotels were able to procure them for approximately ₹1,650 to ₹1,700 per cylinder.
“Subsequently, as everyone is aware, the conflict involving the United States and Iran severely disrupted global gas supplies. Initially, supplies were affected significantly, before gradually recovering to 20 per cent, 50 per cent, and eventually around 70 per cent. These disruptions resulted in a steep increase in commercial LPG prices,” he said.
“Hotels and restaurants are now paying ₹3,198 per commercial LPG cylinder, almost double the price they were paying just a few months ago. As international crude prices have now declined to around US$70 per barrel, roughly the same level as they were in February, the government should reduce the price,” he felt.
“In view of the correction in global crude oil prices, we urge the Central government to revise commercial LPG cylinder prices accordingly. We request that, from July onwards, the price of commercial LPG cylinders be brought back to the February level so that the hotel industry receives much-needed relief,” Shetty urged.
