Indraprastha Gas Ltd (IGL) raised CNG prices in Delhi by ₹2 per kg on Tuesday, taking the retail price to ₹83.09 per kg with effect from Tuesday. According to reports from The Economic Times, this marks the fourth increase in less than 15 days, with cumulative hikes reaching ₹6 per kg since May 15. The latest revision comes just three days after the previous hike of ₹1 per kg, demonstrating the accelerated pace of price adjustments in response to market conditions. As per ANI, the Congress party highlighted that CNG rates have increased four times in the last 12 days, with prices rising by ₹2 on May 15 and 26, and by ₹1 on May 18 and 23.
As reported by The Economic Times, CNG prices were also revised upward across the National Capital Region, with consumers in Noida, Ghaziabad and Greater Noida now paying ₹91.70 per kg, while rates in Gurugram rose to ₹88.12 per kg. In Ajmer, CNG prices increased to ₹92.44 per kg, while in Chennai it rose to ₹95 per kg. The price variations reflect different regional supply dynamics and local market conditions across India's major metropolitan areas. The CNG hike also impacts public transport fleets in cities like Delhi, where a large share of buses and cabs run on the fuel.
The Congress party launched a sharp attack on Prime Minister Narendra Modi following the CNG price hike, labeling him as the 'Inflation Man' and accusing him of 'looting the public for his rich friends'. As per ANI, the party stated that 'CNG has been made ₹2 more expensive. In the last 12 days, CNG prices have been increased by ₹6. When did the prices rise.' IGL attributed the CNG price revision to rising input gas costs and a sharp appreciation of the US dollar. The company stated that even after the revision, CNG would still offer up to 45% savings towards running costs when compared to vehicles running on alternate fuel at current price levels. 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.
According to price notifications from Indian Oil Corporation, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd, petrol prices rose to ₹113.51 per litre in Kolkata, ₹111.21 in Mumbai and ₹107.77 in Chennai. Diesel prices increased to ₹99.82 per litre in Kolkata, ₹97.83 in Mumbai and ₹99.55 in Chennai. In Gujarat, petrol prices rose by ₹2.60 per litre to ₹101.81, while diesel prices increased by ₹2.80 to ₹97.93 per litre. Following Monday's revision, petrol prices in Delhi crossed the ₹100-a-litre mark to reach ₹102.12 per litre from ₹99.51, while diesel prices climbed to ₹95.20 per litre from ₹92.49. 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.
As reported by The Economic Times, the repeated fuel price increases come amid elevated global crude oil prices, which have surged more than 50% since late February following US-Israeli strikes on Iran and disruptions in shipments through the Strait of Hormuz. India, which imports nearly 85% of its crude oil requirements, had largely shielded consumers from the full impact of rising global energy prices for over two months before fuel price revisions resumed earlier this month. 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. Industry executives and government officials have said state-run oil companies have been under mounting financial pressure due to rising crude prices and rupee depreciation, with public sector oil firms facing heavy under-recoveries as international crude prices surged from around $65-70 per barrel to above $100 per barrel during the conflict period.
