Crude Crashes Below $95: What It Means for Your Next LPG Refill

Crude fell below $95 and Gulf LPG ships are back, but cylinder prices are unchanged on 5 November 2026. Here's what it means for your next refill.

5 November 2026. Oil prices fell hard this week and more LPG ships from the Gulf are reaching India. But your cylinder price has not moved yet.

A 14.2 kg domestic cylinder still costs ₹942 in Delhi today. Check your city on our LPG cylinder price today page, and read all our LPG and propane news.

Today’s News at a Glance

  • Crude just crashed below $95. So why is your cylinder still ₹942? Cheaper oil helps India’s import bill, but LPG prices follow Saudi contract prices, not daily crude. See why your refill hasn’t dropped
  • Gulf LPG ships are flooding back into India. UAE imports jumped 240% in September–October as Hormuz transfers restarted. Find out what changed for supply
  • Iran just opened Hormuz for Indian ships. Nearly 90% of India’s LPG imports pass that way, so safer passage helps supply. What it means for your cylinder
  • Uttar Pradesh will give two free LPG refills a year to over 1.89 crore Ujjwala families. One around Diwali and one around Holi. See if you qualify
  • Butane just hit multi-year highs worldwide. Indian cooking gas is about half butane, so costly butane keeps pressure on import costs. See why that matters for India
  • HPCL, BPCL and IOC shares jumped as crude fell. Lower crude eases costs for the companies that sell your LPG. Read the full story
  • Across the border, a 12 kg LPG cylinder jumped 56% in days. Pakistan’s crunch shows how fast prices can spike when a supply route shuts. See what happened

LPG Cylinder Price Update Today

Domestic cylinder prices did not change today. Commercial 19 kg prices are higher than in October after the 1 November revision.

City14.2 kg today14.2 kg previous19 kg today19 kg previous
Delhi₹942₹942₹2,820₹2,810
Mumbai₹941.50₹941.50₹2,775₹2,764.50
Kolkata₹968₹968₹2,971₹2,954
Chennai₹957.50₹957.50₹2,994.50₹2,983
Today = Goodreturns, 5 November 2026. Previous = Goodreturns, 31 October 2026 (October rates).

Previous prices: in October a 19 kg commercial cylinder cost ₹2,810 in Delhi, ₹2,764.50 in Mumbai, ₹2,954 in Kolkata and ₹2,983 in Chennai. That is a rise of ₹10 to ₹17 in November. Domestic 14.2 kg prices are the same as in October.

BenchmarkNowPrevious
Aramco CP propane$720 a tonne (November)$680 (October)
Aramco CP butane$780 a tonne (November)$730 (October)
Brent crude$93.70 a barrel (early 5 Nov)Not listed in our sources
Aramco CP as reported by MT Newswires and Argaam on 29 October 2026. Brent from Fortune India.

See Delhi, Mumbai, Kolkata, Chennai and every other city on our India LPG price page. More India price posts are in India LPG Prices. For prices in other countries, see our international LPG price page.

Top story: crude crashes, but LPG prices stay put

  • Brent crude fell about 9% on 4 November to below $95 a barrel, its lowest in about two months.
  • India’s LPG imports from the UAE, Kuwait and Qatar rose sharply in September–October, helped by ship-to-ship transfers near Hormuz.
  • Iran says Indian ships are exempt from its Hormuz transit restrictions.
  • Uttar Pradesh will give two free LPG refills a year to over 1.89 crore Ujjwala families.
  • Domestic LPG prices are unchanged today. Delhi: ₹942 (14.2 kg) and ₹2,820 (19 kg commercial).

Brent crude fell 8.7%, or $8.98, in one session on Wednesday to slip below $94 a barrel. US crude (WTI) fell to around $87.

Fortune India reported Brent at $93.70 and WTI at $87.04 early on Thursday. Traders are betting that the US midterm results will push Washington towards a deal to end the war with Iran.

This matters for India because the country imports most of its crude and about 60% of its LPG. Cheaper oil can ease the import bill and the rupee. But LPG prices in India follow the Saudi Aramco contract price (CP), not daily crude moves.

Aramco’s November CP rose to $720 a tonne for propane and $780 for butane, as reported on 29 October. So a fall in crude does not mean a cheaper cylinder tomorrow. Analysts quoted by Fortune India also warned that the fall rests on hopes, not a confirmed peace deal.

More LPG and energy news today

Gulf LPG cargoes return to India

India’s LPG imports from the UAE averaged 565,315 tonnes a month in September–October, up 240% from March–August, according to Kpler data reported by the Indian Express. Imports from Kuwait and Qatar also rose.

US LPG imports fell 36% over the same period. Total imports were about 1.52 million tonnes in October, still below the 2.03 million tonnes of February, before the war.

Iran exempts Indian ships from Hormuz restrictions

An Iranian lawmaker said ships from India, China, Iraq and Qatar can pass through the Strait of Hormuz without Iran’s transit restrictions, Outlook India reported. He said Indian and Chinese ships still pay a fee. Nearly 90% of India’s LPG imports pass through this waterway, so safer passage helps supply.

UP announces two free refills for Ujjwala families

Uttar Pradesh will give one free refill around Diwali and one around Holi in 2026–27 to over 1.89 crore eligible Ujjwala families. Beneficiaries need an Aadhaar-linked bank account and completed Aadhaar authentication. The Chief Minister said a domestic cylinder costs ₹983.45, with a central subsidy of ₹335 for Ujjwala users.

Butane hits decade highs worldwide

Butane prices have reached multi-year highs. Asia’s AFEI butane index stood at $1,180 a tonne on 3 November, OilPrice.com reported. Indian cooking gas is close to a 50:50 propane–butane mix, so costly butane keeps pressure on India’s import costs even as crude falls.

Oil marketing company shares rally

HPCL rose 5.17%, BPCL 3.63% and IOC 3.10% in early trade on Thursday as crude fell, Moneycontrol reported. Lower crude eases costs for these companies, which sell LPG, petrol and diesel.

Neighbour watch: Pakistan’s LPG crunch

In Pakistan, the price of a 12 kg LPG cylinder jumped 56% to 7,000 Pakistani rupees within days after two Iranian border crossings closed on 17 October, traders told Reuters. It shows how quickly LPG prices can jump when one supply route shuts. Our earlier report on Gulf LPG ships has more on how the Middle East crisis hit LPG shipping.

What it means for you

  • Your domestic cylinder price stays the same for now. Book refills as normal.
  • If you are an Ujjwala user in UP, complete Aadhaar authentication so you get the free refill.
  • Commercial users already paid more in November. Falling crude alone will not cut that price before the next monthly revision.
  • Read how past cuts worked in our commercial LPG price cut story.

What to watch next

  • Whether crude holds below $95 or bounces back if US–Iran talks stall.
  • Saudi Aramco’s December CP, usually announced at the end of the month.
  • The next LPG price revision on 1 December 2026 at 6 AM.

More updates in India LPG Prices.

Sources

James Gates
James Gates

James Gates is the editor of LPG & Propane News at lpgpricetoday.com. He writes the daily news roundups that cover U.S. propane and India LPG developments. His posts cite the original publishers and point readers to the site's dated price pages.

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