Karnataka Hoteliers Request Rollback of Commercial LPG Prices Amid Crude Oil Price Decline
The Karnataka State Hotels Association (KSHA) has urged the Central Government to reduce commercial LPG cylinder prices, which have nearly doubled from around Rs 1,800 in February to Rs 3,198 recently. The increase followed disruptions in global gas supplies due to Middle East conflicts, though supplies have since recovered to about 70%. With international crude oil prices now back to approximately USD 70 per barrel, KSHA requests prices be rolled back to February levels from July to ease the hotel industry's costs. An interim US-Iran agreement may further stabilize oil shipments through the Strait of Hormuz, potentially benefiting India’s crude imports.