CNG price hike in Delhi-NCR and other cities, check rates here
Since Tuesday, the price of CNG in Delhi and its environs was increased. CNG costs have increased by around Rs 4 per kg this year alone.
FollowCNG prices in the national capital and surrounding cities were raised by Rs 0.50 per kg on Tuesday, while an impending increase in petrol and diesel prices has been on wait-and-watch mode for better clarity on global oil prices.
The price of CNG in Delhi is increased to Rs 57.51 per kg from Rs 56.51, as per the information posted on the website of Indraprastha Gas Ltd, the company which retails CNG and piped cooking gas in the national capital.
CNG is Rs 1 per kg more expensive in Noida, Greater Noida, and Ghaziabad. On Tuesday, the cost was Rs 59.58 per kg. Rates vary by state, depending on the local taxes. In Mumbai, where CNG costs Rs 66 per kg, there is no change in price. IGL has not raised the price of piped cooking gas supplied to residential kitchens.
The international oil prices reached a 13-year high of $140 per barrel. Petrol and diesel prices are likely to rise this week as oil companies prepare to reduce losses from holding rates steady for over four months in the run-up to Assembly elections in five states, including Uttar Pradesh.
The impending increase in petrol and diesel prices has been put on wait-and-watch mode to clarify global oil prices better. While talking to PTI, a senior executive said they are keeping a close eye on the situation. They are monitoring that the current spike in international oil prices is a passing fad or here to stay.
In response to a decision to raise petrol and diesel prices, Rameswar Teli, MoS, Petroleum and Natural Gas, stated that the Petroleum Ministry with oil companies decide the rate of oil, and it is yet to happen. He added that people are aware that oil prices are rising due to the ongoing Russia-Ukraine war. When the meeting occurs, the people will be informed of the expenses.
On Monday, crude oil prices approached a record high due to fears of a Russian oil ban and a delay in the Iran nuclear deal. Brent crude oil reached a high of $139.13 per barrel in early trading on Monday. Brent crude reached an all-time high of $147.50 per barrel in July 2008.
India is concerned about the rising oil costs because it imports 85 per cent of its energy requirements. The Indian energy basket, which includes Oman, Dubai, and Brent oil, has benefited from the continuous rise in global crude prices. According to data from the Ministry of Petroleum and Natural Gas's Petroleum Planning & Analysis Cell, it was last recorded as $111.61 per barrel on March 4. However, market analysts anticipate that retail gasoline and diesel prices will sharply increase going ahead.
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