Indraprastha Gas Ltd (IGL) has increased compressed natural gas (CNG) prices by ₹2 per kg across Delhi-NCR, marking the fourth increase in less than 15 days. According to reports from Business Standard, the latest hike brings CNG prices to ₹83.09 per kg in Delhi, up from the previous ₹81.09 per kg. The price varies across different areas, with ₹91.70 per kg in Noida and Ghaziabad, ₹88.12 per kg in Gurugram, and ₹92.44 per kg in Ajmer.
IGL had previously raised CNG prices by ₹1 per kg on Saturday across its geographical areas, following a similar increase on May 23. As reported by Business Standard, the current price increases are attributed to elevated global energy prices due to the West Asia conflict. The ongoing conflict has caused crude oil prices to hover above $100 per barrel, compared to around $80 per barrel before the conflict.
The energy price increases extend beyond CNG to other fuel categories, with petrol and diesel prices witnessing significant hikes across India. According to Business Standard, oil marketing companies (OMCs) have increased petrol prices by ₹7.38 per litre and diesel prices by ₹7.52 per litre since May 15. The latest hike on Monday saw petrol and diesel prices raised by ₹2.61 per litre and ₹2.71 per litre respectively. Non-branded petrol in Delhi has breached the ₹100-per-litre mark to cost ₹102.12 per litre, while diesel costs ₹95.20 per litre.
The fuel price increases have significantly impacted major metropolitan cities across India. In Kolkata, petrol prices increased to ₹113.51 per litre while diesel rose to ₹99.82 per litre. In Mumbai, petrol became costlier at ₹111.21 per litre and diesel climbed to ₹97.83 per litre. In Chennai, petrol prices rose to ₹107.77 per litre and diesel increased to ₹99.55 per litre. These increases add substantial burden on consumers and transport operators across different cities.
The government has acknowledged that India's energy companies are under financial stress from selling fuel at comparatively lower prices. As reported by Business Standard, the mounting losses have prompted multiple price hikes across fuel categories. The energy sector faces challenges as crude oil prices remain elevated, creating pressure on retail fuel prices across the country, with fuel prices in India revised based on international crude and gas rates, exchange rates, and local levies.
