New Delhi, April 8 -- Donald Trump, on Tuesday night, announced that US has agreed to a two-week ceasefire with Iran proposed by Pakistan. Iranian Foreign Minister Abbas Araghchi confirmed Tehran's acceptance and said Iran would allow "safe passage" of the Strait of Hormuz during those two weeks "via coordination with Iran's armed forces."

The ceasefire agreement includes opening of the Strait of Hormuz. Oil plunged below $100 a barrel after the US and Iran agreed to a two-week ceasefire that's expected to halt the American-Israeli military campaign in exchange for Tehran reopening the Strait of Hormuz.

The government has hiked the cost of both domestic and commercial LPG cylinders amid supply disruptions.

The Domestic LPG (14.2 kg) cy...