IGL increases CNG prices by ₹2/kg; Delhi rate crosses ₹83 mark

CNG prices in the national capital were hiked by ₹2 per kg on Tuesday, marking the fourth increase in less than two weeks amid rising input gas costs and a sharp appreciation in the US dollar.

With the latest revision, compressed natural gas (CNG) in Delhi will now cost ₹83.09 per kg, according to Indraprastha Gas Ltd (IGL).

The latest hike follows earlier increases of ₹2 per kg on May 15, Re 1 per kg on May 17 and Re 1 per kg on May 23, taking the cumulative increase to ₹6 per kg since May 15.

IGL had earlier said the revision in CNG prices was aimed at “marginally offsetting” the impact of higher input gas costs and the steep appreciation of the US dollar.

“Even after revision, CNG would still offer upto 45% savings towards the running cost when compared to vehicles running on alternate fuel at the current level of prices,” the company had said on May 23.

The latest CNG price hike comes a day after state-owned fuel retailers raised petrol and diesel prices by up to ₹2.87 per litre across major cities, the fourth increase in less than two weeks.

Following Monday’s revision, petrol prices in Delhi crossed the ₹100-a-litre mark to reach ₹102.12 per litre, while diesel prices rose to ₹95.20 per litre.

Petrol prices in Delhi were increased by ₹2.61 per litre from ₹99.51 earlier, while diesel rates were hiked by ₹2.71 per litre from ₹92.49.

The latest increase has pushed cumulative hikes in petrol and diesel prices to more than ₹7.5 per litre since May 15.

According to price notifications issued by 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 in the three metros increased to ₹99.82 per litre in Kolkata, ₹97.83 in Mumbai and ₹99.55 in Chennai.

Fuel rates vary across states depending on local VAT and other levies imposed by state governments.

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.

In Jaipur, petrol prices climbed to ₹112.66 per litre and diesel to ₹97.78 per litre.

IOC, BPCL and HPCL together account for nearly 90% of India’s fuel retail market.

The recent hikes come amid elevated global crude oil prices, which have surged more than 50 per cent since late February following US-Israeli strikes on Iran and disruptions in shipments through the Strait of Hormuz.