Commercial LPG cylinder prices saw a significant increase from Monday, with the 19kg cylinder becoming ₹42-₹53.50 costlier across major cities, while the 5kg Free Trade LPG (FTL) cylinder saw an ₹11 hike, putting additional pressure on small businesses and restaurants that depend on cooking gas.

In Delhi, the 19kg commercial cylinder now costs ₹3,113.50, up from ₹3,071.50, according to sources familiar with the matter. Kolkata witnessed an even steeper increase of ₹53.50, taking the price to ₹3,255.50 per cylinder. However, domestic LPG cylinders used by households remain unchanged, offering some relief to families.

Domestic Gas Prices Stay Put

The price revision applies only to commercial cylinders, not the 14.2kg domestic cylinders used by households. Sources clarified that there has been no change in domestic LPG rates across cities, a move that authorities say was intentional to protect middle-class families from rising living costs during the summer months.

Restaurant owners and small business operators, however, expressed concern over the impact on their operations. "This increase will force us to either absorb the cost or pass it on to customers," said Rajesh Kumar, owner of a mid-sized restaurant in Paschim Vihar, New Delhi. "Either way, margins are getting squeezed."

FIFA World Cup 2026 to Air on Zee Network in India

In sports entertainment news, Indian football fans will soon have access to the FIFA World Cup 2026 through Zee Entertainment. The broadcaster has secured television and streaming rights for the tournament, which begins on June 11 and runs until July 19, 2026.

Matches will be telecast on United8 Sports, Zee's newly launched sports channel, while live streaming will be available on the Zee5 app. The deal, reportedly valued between USD 30-35 million, covers both television broadcasting and online streaming distribution rights for India.

The 2026 World Cup, jointly hosted by the United States, Canada, and Mexico, will feature 48 teams playing 104 matches—marking the first time the tournament has expanded to this format.

GST Collection Drops 20% in May After April's Record

Government tax revenues showed signs of moderation in May 2026. India's gross GST collection stood at ₹1.94 lakh crore, down 20% from April's record ₹2.42 lakh crore, according to official data released on Sunday. However, the figure remains 3.2% higher than the ₹1.88 lakh crore collected in May 2025, indicating year-on-year growth despite the month-on-month dip.

Net GST revenue for May rose 3.3% year-on-year to ₹1.67 lakh crore, compared to ₹1.62 lakh crore in the same period last year. The April surge was attributed to advance tax payments and festival-related spending, economists noted.

Maruti Suzuki Sets Monthly Sales Record

The automotive sector showed strong momentum, with Maruti Suzuki India Limited selling 2,42,688 units in May 2026—the company's highest-ever monthly sales volume. This represents a 34% increase compared to 1,80,077 units sold in May 2025.

The growth was driven by robust domestic demand and strong export performance. Hyundai, Mahindra & Mahindra, and Toyota also reported healthy growth, with sales rising up to 11% year-on-year, according to monthly sales reports released by automakers on June 1.

Gold, Silver Prices Retreat from Record Highs

Precious metals saw a correction on Monday. Gold prices fell ₹864 to ₹1,56,220 per 10 grams for 24-carat gold, while silver dropped ₹450 to ₹2,79,900 per kilogram, according to India Bullion and Jewelers Association (IBJA) data.

Analysts attributed the decline to profit-booking after gold touched record highs earlier this year. "Gold has corrected about ₹20,000 from its all-time high, making it more accessible for jewelry demand," said a Mumbai-based bullion trader.

Fuel Prices Hold Steady on June 1

Petrol and diesel prices remained unchanged across India on June 1 following a recent hike. In Delhi, petrol is now priced at ₹102.12 per litre and diesel at ₹95.20 per litre. Mumbai saw petrol at ₹111.21 and diesel at ₹97.83 per litre.

Oil marketing companies had recently increased fuel prices by ₹2.61 per litre for petrol and ₹2.71 for diesel as global crude oil crossed $100 per barrel.

Banks Closed 11 Days in June

The Reserve Bank of India's holiday calendar shows banks will remain closed for 11 days in June 2026. This includes four Sundays, the second and fourth Saturdays (June 14 and June 28), and five additional regional holidays observed across different states, including Bakrid/Eid al-Adha on June 13.

New Export Duty on Fuel Takes Effect

Additionally, new export duties on petrol, diesel, and ATF (aviation turbine fuel) came into effect from June 1, impacting India's fuel export economics. The move is expected to reduce fuel exports while ensuring adequate domestic supply during the monsoon season when demand typically rises.

Market analysts suggest that while the commercial LPG hike and fuel export duties may increase short-term costs for businesses, the overall economic picture remains resilient with GST collections showing year-on-year growth and auto sales hitting record levels.

Looking ahead, attention will turn to the RBI's monetary policy review next week, where interest rate decisions could further impact business borrowing costs and consumer spending patterns.