LPG under recovery rises to ₹327/cylinder in November: HPCL
Under recovery during March 31, 2026 and September 30, 2025 was around ₹12,798.67 crore and ₹14,240.64 crore, respectively
In November 2026, the under-recovery in liquefied petroleum gas (LPG) rose by nearly 34 percent to ₹327 per 14.2 kg domestic cylinder, according to Vikas Kaushal, Chairman of State-run Hindustan Petroleum Corporation (HPCL). This increase is attributed to selling LPG to consumers below market rates. The under-recovery for the quarter ended March 31, 2026, was around ₹12,798.67 crore, while it was approximately ₹14,240.64 crore as of September 30, 2025.
Industry-wide, the under-recovery was around ₹721 per cylinder in June, which dropped to roughly ₹500 a cylinder the following month. The HPCL management attributed the rise to increased freight rates, with US LPG prices linked to Mont Belvieu prices ($0.68 per gallon in August) and longer voyages to India driving up costs. The company also refinanced its loan of ₹45,000-50,000 crore for the HPCL Rajasthan Refinery, reducing the debt burden by about ₹470-500 crore annually, effective from October 3rd.
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