Torrent Gas Raises CNG Prices Amid Rising Fuel Costs in India
Israel, Iran war: Torrent Gas raises CNG price by Rs 2.50/kg; locals flag rising cost burden
The Economic TimesImage: The Economic Times
Torrent Gas has increased the price of compressed natural gas (CNG) by ₹2.50 per kg in India, raising concerns among residents and auto-rickshaw drivers about the impact on daily expenses and earnings. This hike is part of a broader trend of rising fuel prices driven by global energy market pressures and geopolitical tensions.
- 01Torrent Gas raised CNG prices by ₹2.50 per kg.
- 02Residents express concerns over increased daily expenses.
- 03Auto-rickshaw drivers report pressure on earnings due to shrinking margins.
- 04The price hike follows increases in commercial LPG and aviation turbine fuel.
- 05Global geopolitical tensions are contributing to rising energy costs.
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Torrent Gas has announced a ₹2.50 per kg increase in the price of compressed natural gas (CNG), prompting concerns among residents in India regarding the rising cost of living. Locals have expressed worries that this increase will significantly impact their daily expenses, while auto-rickshaw drivers are feeling the strain on their earnings due to reduced profit margins. This price revision occurs amid a broader increase in fuel costs, including a recent hike in commercial LPG cylinder prices, which rose by ₹195.50, bringing the cost of a 19-kg cylinder in Delhi to ₹2,078.50. Smaller cylinders have also seen price increases, while domestic LPG rates remain unchanged after a prior increase in March. The rising fuel prices are attributed to global factors, particularly escalating geopolitical tensions in West Asia and disruptions in crude oil supply routes, notably through the Strait of Hormuz. The combined effect of these price hikes is creating challenges across various sectors, affecting transport, hospitality, and overall consumer costs.
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The increase in CNG prices will likely lead to higher transportation costs for residents, affecting daily expenses and potentially leading to increased fares for auto-rickshaws.
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