Mumbai: Gas distributor Indraprastha Gas Limited (IGL) Tuesday announced a fresh increase in compressed natural gas (CNG) prices, marking the fourth hike in less than two weeks.
CNG prices in Delhi have been hiked by Rs 2 per kg.
Following the latest revision by IGL, CNG in Delhi will now cost Rs 83.09 per kg, up from Rs 81.09 per kg.
However, prices were revised upward across the National Capital Region, with consumers in Noida, Ghaziabad and Greater Noida now paying Rs 91.70 per kg, while rates in Gurugram rose to Rs 88.12 per kg. In Ajmer, CNG prices increased to Rs 92.44 per kg.
The increase comes shortly after a Rs 1 hike announced Saturday, continuing a steady upward trend in fuel rates over the past several days.
The repeated rise in CNG prices is expected to significantly impact users of CNG-powered vehicles, especially in metropolitan cities like Delhi and Mumbai, where public transport systems, taxis, and commercial vehicles heavily depend on the fuel. Transport operators fear that the higher operating costs may eventually lead to increased fares for passengers.
At the same time, state-owned oil marketing companies (OMCs) have revised petrol and diesel prices upward for the fourth time in under two weeks. The back-to-back hikes are being attributed to volatility in global energy markets and growing concerns over crude oil supply amid continuing tensions in the Middle East.
In Delhi, petrol prices have risen by Rs 2.61 per litre and are now retailing at Rs 102.12 per litre. Diesel prices in the national capital have increased by Rs 2.71, taking the rate to Rs 95.20 per litre.
Kolkata witnessed one of the sharpest increases among major cities. Petrol prices there climbed by Rs 2.87 per litre to reach Rs 113.51, while diesel prices rose by Rs 2.80 to Rs 99.82 per litre.
Mumbai also recorded a significant rise in fuel prices. Petrol rates in the financial capital increased by Rs 2.72 to Rs 111.21 per litre, while diesel prices went up by Rs 2.81 and are currently being sold at Rs 97.83 per litre.
In Chennai, petrol prices increased by Rs 2.46 per litre to Rs 107.77, while diesel rates rose by Rs 2.57, reaching Rs 99.55 per litre.
The latest round of hikes follows a series of fuel price revisions earlier this month.
On May 15, petrol and diesel prices were increased by Rs 3 per litre each. Another increase of 90 paise per litre followed on May 19.
On May 23, petrol prices were again raised by 87 paise per litre, while diesel rates saw an increase of 91 paise per litre.
Experts say fuel prices are closely linked to international crude oil rates, currency exchange fluctuations, and domestic taxation policies.
The continuous rise in fuel costs is likely to push up transportation and logistics expenses, which may eventually affect the prices of essential goods transported by road. Consumers are also expected to face higher daily travel expenses.
Meanwhile, the government had reduced excise duty on petrol and diesel on March 27 to provide relief to consumers.
IANS
