CNG Prices Rise to Rs 83.09/Kg in Delhi-NCR Amid Fuel Cost Surge
CNG Prices Hiked By Rs 2 In Delhi-NCR, Now At Rs 83.09/Kg
News 18
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CNG prices in Delhi-NCR have increased by Rs 2 to Rs 83.09 per kg, marking the third hike since mid-May. This rise reflects ongoing pressures from elevated global crude prices, impacting households and transport operators already facing rising fuel costs.
- 01The latest CNG price hike is part of a series of increases since mid-May, totaling Rs 6 per kg.
- 02Petrol and diesel prices have also seen significant increases, with petrol now at Rs 102.12 per litre and diesel at Rs 95.20 per litre in Delhi.
- 03State-run oil companies control nearly 90% of India's fuel retail market and are facing financial pressures due to high global crude prices.
- 04The recent fuel price hikes are expected to contribute to inflation and increased transportation costs across various sectors.
- 05Despite price increases, state-run oil firms continue to incur daily losses on fuel sales.
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On Tuesday, CNG prices in Delhi-NCR were raised by Rs 2 per kg, bringing the retail price to Rs 83.09 per kg, amid ongoing increases in petrol and diesel prices. This hike marks the third increase since mid-May, totaling a cumulative rise of Rs 6 per kg. The price adjustments come as state-run fuel retailers, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), face mounting pressure from elevated global crude oil prices and disruptions in shipping routes. Petrol and diesel prices have also surged, with petrol now costing Rs 102.12 per litre and diesel at Rs 95.20 per litre in Delhi. These increases are likely to exacerbate inflation and raise transportation costs, impacting consumers and the economy. Despite these hikes, oil firms are still incurring significant losses, highlighting the challenges in the fuel retail market.
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The increase in fuel prices is expected to raise transportation costs and contribute to inflation.
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