CNG prices hiked by Rs 2/kg in Delhi, now at Rs 83.09, the fourth increase in under 15 days. Petrol and diesel prices were also raised again, with petrol crossing the Rs 100-mark in the national capital, adding to consumer woes.
CNG, Petrol and Diesel Prices Hiked
The prices of Compressed Natural Gas (CNG) have increased by Rs 2 per kg in Delhi with effect from Tuesday, adding to the commuting burden for users of CNG-powered vehicles. CNG will now cost Rs 83.09 per kg in the national capital. The latest revision makes it the fourth hike in CNG prices in less than 15 days. It comes just days after the previous hike of Re 1 in CNG prices on Saturday.
The CNG hike also impacts public transport fleets in cities like Delhi, where a large share of buses and cabs run on the fuel. Petrol and diesel prices were also hiked once again on Monday, marking the fourth increase in less than two weeks amid continued volatility in global crude markets and ongoing geopolitical tensions in West Asia. Following the latest revision, petrol prices in Delhi crossed the Rs 100-mark, rising by Rs 2.61 to Rs 102.12 per litre, while diesel prices increased by Rs 2.71 to Rs 95.20 per litre.
Prices in Other Metro Cities
Similar hikes were witnessed across major metropolitan cities, including Kolkata, Mumbai and Chennai, adding to the burden on consumers and transport operators. In Kolkata, petrol prices increased by Rs 2.87 to Rs 113.51 per litre, while diesel rose by Rs 2.80 to Rs 99.82 per litre. In Mumbai, petrol became costlier by Rs 2.72 and is now priced at Rs 111.21 per litre, whereas diesel climbed by Rs 2.81 to Rs 97.83 per litre. In Chennai, petrol prices rose by Rs 2.46 to Rs 107.77 per litre, and diesel increased by Rs 2.57 to Rs 99.55 per litre.
Fourth Hike in Less Than Two Weeks
The latest revision comes after three successive hikes in recent days. On May 15, petrol and diesel prices were increased by Rs 3 per litre each. This was followed by another increase on May 19, when fuel prices were raised by 90 paise per litre. On May 23, petrol prices rose by 87 paise per litre, while diesel prices were increased by 91 paise per litre, making the current revision the fourth hike in less than two weeks.
Why Are Fuel Prices Rising?
Fuel prices in India are revised based on international crude and gas rates, exchange rates, and local levies. The recent increases come amid elevated global energy prices due to ongoing West Asia tensions and supply concerns, which have kept both crude oil and natural gas markets volatile.
Impact on Economy and Households
The back-to-back hikes in CNG, petrol, and diesel are set to raise transport and logistics costs, with potential knock-on effects on inflation. For households, the impact will be felt through higher commuting expenses and possible increases in prices of goods transported by road.
Government on Excise Duty Cut
However, the Centre maintained that it has forgone nearly Rs 14,000 crore in tax revenue after reducing excise duty on petrol and diesel to shield consumers from rising fuel prices, according to Sujata Sharma, Joint Secretary in the Petroleum Ministry. The government had cut central excise duty by Rs 10 per litre on both petrol and diesel on March 27, following a sharp rise in global crude oil prices due to tensions in West Asia. (ANI)
(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)