New Delhi : CNG prices were hiked again on Tuesday, up by Rs 2 per kg from the previous rate, marking the fourth increase in less than two weeks amid rising global energy prices. This is the third CNG price hike in the last nine days and the fourth increase within 11 days. Earlier, CNG prices were raised by Re 1 per kg on Sunday.
CNG prices in Delhi-NCR were raised by Re 1 per kg on Friday, following a Rs 2 per kg hike on May 15. The cumulative increase in CNG prices in Delhi since May 15 now stands at Rs 7 per kg. However, there has been no change so far in the prices of piped natural gas supplied to households or domestic LPG cylinders. The latest round of fuel price hikes comes as oil marketing companies continue to face pressure from rising global crude oil prices.
The fresh hike comes amid continued volatility in international crude oil markets triggered by supply concerns linked to tensions in the Gulf region. Brent Crude is selling at USD 86 per barrel, up from USD 72 before the Middle East conflict broke out on February 28. The latest CNG price hike comes just three days after petrol and diesel prices were hiked again across the country on Saturday, marking the third increase in fuel rates this month amid rising global crude oil prices and escalating geopolitical tensions in West Asia.
Petrol prices increased by 87 paise per litre, while diesel prices saw a hike of 91 paise per litre. In Delhi, petrol now costs Rs 99.51 per litre, up from Rs 98.64, while diesel prices have risen from Rs 91.58 to Rs 92.49 per litre. The latest revision comes as state-owned oil marketing companies continue to pass on the impact of higher international oil prices to consumers. The price hike also follows the Petroleum Ministry’s assurance that India has adequate fuel supplies despite market rumours over shortages.
India’s fuel retail market is dominated by three state-run companies — Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) — which together account for nearly 90 per cent of fuel sales across the country. The consecutive hikes in petrol and diesel prices follow a sharp rise in international crude oil rates, which have climbed more than 50 per cent since late February amid escalating tensions in West Asia.
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