New Delhi, May 17: Indraprastha Gas Limited (IGL) on Sunday raised compressed natural gas (CNG) prices by Re 1 per kg across its network, marking the second increase within 48 hours and further escalating fuel costs in the Delhi-NCR region.
With the latest revision, CNG prices in Delhi have climbed to Rs 80.09 per kg, crossing the Rs 80 threshold for the first time. In Noida and Ghaziabad, CNG will now retail at Rs 88.70 per kg.
The hike follows a Rs 2 per kg increase announced on May 15, when CNG prices in Delhi were revised to Rs 79.09 per kg. The cumulative increase is expected to raise operating costs for private vehicle owners, cab operators and public transport users dependent on CNG.
The upward revision in CNG prices coincides with a broader rise in retail fuel rates announced by the Centre earlier this month. Petrol and diesel prices in Delhi were increased by nearly Rs 3 per litre each, taking petrol prices to Rs 97.77 per litre and diesel to Rs 90.67 per litre.
Fuel prices have come under pressure amid heightened geopolitical tensions in West Asia and the ongoing disruption around the Strait of Hormuz, a key global energy transit corridor through which nearly one-fifth of global oil and gas trade moves. Supply concerns have driven international crude prices sharply higher.
Addressing concerns over rising fuel costs, Union Minister Kiren Rijiju said India has contained the extent of fuel price increases despite a sharp surge in global crude oil prices.
He said while several countries witnessed fuel price hikes ranging from 20 per cent to nearly 100 per cent, India recorded relatively moderate increases of 3.2 per cent in petrol and 3.4 per cent in diesel prices.
Rijiju added that public sector oil marketing companies absorbed substantial losses for weeks, even as Brent crude crossed $100 per barrel, to shield consumers from a sharper inflationary impact.
