After LPG, CNG and pipeline cooking gas price hiked

This is the third increase in CNG prices this month, following a global increase in input (natural gas) prices.

This is the third increase in CNG prices this month, following a global increase in input (natural gas) prices.

CNG and cooking gas, which is piped to household kitchens (PNG) in the nation’s capital, saw prices rise by £1 on Thursday, following hikes in the price of petrol, diesel and LPG.

CNG price in NCT of Delhi has increased from ₹58.01 to ₹59.01 per kg, according to information published on the website of Indraprastha Gas Ltd – the company that distributes CNG and pipeline cooking gas in the national capital.

This is the third increase in CNG prices this month, following a global increase in input (natural gas) prices. On the last two occasions prices had increased by ₹0.50 per kg.

Following the firming of international gas prices, IGL has regularly increased CNG prices. This year alone, prices have risen by around ₹5.50 per kg.

The price of piped natural gas, which households receive for cooking, was also increased by £1 to £36.61 per standard cubic meter in Delhi.

The increase follows a £1.60 per liter hike in petrol and diesel prices, which have been affected over the past two days, and a £50 per bottle hike in cooking gas LPG prices.

After rising 80 Paise per liter on March 22-23, petrol and diesel prices were flat on Thursday, possibly because of the heat the government faced in Parliament on the issue the previous two days.

In Noida, Greater Noida and Ghaziabad CNG costs ₹61.58 per kg and in Gurugram the price is ₹67.37 per kg.

Likewise, the PNG cost has increased to ₹35.86 per SCM in Noida, Greater Noida and Ghaziabad and ₹34.81 in Gurugram.

Prices vary from city to city depending on the collection of local taxes such as VAT.

A record 137-day hiatus in gasoline and diesel price revisions ended on March 22, with prices raising by 80 paise a liter and a similar increase in share on Wednesday.

On March 22, the price of a 14.2 kg LPG bottle was increased to ₹949.50 in the state capital. In some places the LPG price has reached £1,000.

Prices had been frozen since November 4 ahead of general elections in states like Uttar Pradesh and Punjab – a time when commodity (crude) prices rose by $30 a barrel.

The rate revision was expected shortly after the March 10 general election ended, but it was postponed.

The oil companies are now making up for the losses.

They “need to raise diesel prices by Rs. 13.1-24.9 per liter and Rs. 10.6-22.3 per liter of gasoline (gasoline), given an underlying crude price of $100-120 per barrel,” Kotak Institutional Equities said in a message.

According to CRISIL Research, the price of crude oil (the raw material used to make petrol and diesel) averaged $100 a barrel in the current quarter and full pass-through would require retail prices to increase by £9-12 a liter. And if the average crude oil price increases to $110-120, the required increase would be ₹15-20 per liter.

India is 85% dependent on imports to meet its oil needs and therefore retail prices are adjusting in line with a global movement.

The issue of price hikes was an issue in both Lok Sabha and Rajya Sabha, with the opposition protesting the extra burden on the common man already suffering from the pressures of high inflation and soaring commodity prices. The opposition forced adjournments in Rajya Sabha while leaving Lok Sabha on the issue.

With no increase in petrol and diesel prices on Thursday, both parliament buildings functioned normally.

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