CNG Prices Rise Again in India Amid Global Energy Crisis
L'essentiel
- CNG prices in Delhi increased by Re 1 per kg to Rs 81.09, the third hike in under 10 days.
- This follows rising petrol and diesel prices, driven by global energy costs linked to the Middle East crisis and Strait of Hormuz disruptions.
Résumé généré par IA
Pourquoi c'est important
CNG, petrol, and diesel prices have seen multiple increases in less than 10 days. These hikes are attributed to rising global energy prices, triggered by the ongoing Middle East crisis and disruptions around the Strait of Hormuz, a critical global energy corridor.
CNG prices were increased by Re 1 per kg on Saturday, marking the third hike in less than 10 days, amid rising global energy prices triggered by the ongoing Middle East crisis. This development comes after recent hikes in petrol and diesel prices as surging crude oil costs continue to pressure fuel rates.
After the latest revision, CNG will cost Rs 81.09 per kg in Delhi. In Noida and Ghaziabad, the price will be Rs 89.70 per kg. This is the third increase in rates since May 15, when state-owned oil companies raised CNG prices by Rs 2 per kg, when Delhi’s CNG rate had moved to Rs 79.09 per kg. Later on May 17, the Indraprastha Gas Limited (IGL) raised rates by Re 1 per kg across its network, marking the second hike in just 48 hours. With the latest revision, CNG prices in Delhi climbed to Rs 80.09 per kg, breaching the Rs 80-mark for the first time.
Revised rates of CNG in major cities
City Prices Delhi Rs 81.09 per Kg NoidaRs 89.70 per Kg GhaziabadRs 89.70 per Kg Greater Noida Rs 89.70 per Kg
GurugramRs 86.12 per Kg
Earlier, petrol and diesel prices were increased again on Saturday, marking the third hike in less than 10 days as global crude oil prices continue to surge amid the ongoing West Asia conflict and disruptions around the Strait of Hormuz. Petrol prices were raised by up to 87 paise per litre, while diesel prices increased by as much as 91 paise per litre across major cities. In Delhi, petrol now costs Rs 99.51 per litre, up from Rs 98.64, while diesel prices rose from Rs 91.58 to Rs 92.49 per litre.
The consecutive hikes in CNG, petrol and diesel come amid mounting pressure on global energy markets due to escalating tensions in the Middle East and the continued blockade of the Strait of Hormuz, a critical global energy corridor through which nearly one-fifth of the world’s oil and gas trade passes. Supply concerns linked to disruptions in this narrow passage have pushed global crude prices sharply upward, intensifying pricing pressures domestically. Global crude oil prices, which were earlier hovering around $70-72 per barrel before the conflict, surged past $120 at one point and are currently trading in the $104-110 range. India’s crude oil basket has averaged nearly $113-114 per barrel in recent months, compared to around $69 per barrel in February. India imports nearly 90 per cent of its crude oil requirements, making domestic fuel prices highly sensitive to international market movements.
The back-to-back hikes in CNG, petrol and diesel prices are expected to increase transportation costs for private vehicle owners, cab drivers and commuters who depend on CNG as a relatively affordable fuel option. Meanwhile, commercial vehicle operators and taxi unions continued their protest across Delhi-NCR against rising fuel prices and stagnant fares. Transport bodies, including the All India Motor Transport Congress and Chalak Shakti Union, have demanded a rollback of recent fuel hikes, withdrawal of CNG surcharge and a revision in taxi fares, warning that mounting operational costs are severely impacting drivers’ livelihoods.
À surveiller
Perspective IA — des possibilités, pas des certitudes
Continued pressure on domestic fuel prices due to sustained high global crude oil prices.
Très probable · Moyen terme
Further protests and demands for rollback of fuel hikes and fare revisions by transport unions.
Probable · Court terme
Questions ouvertes
- What is the projected duration of the current high global crude oil prices?
- Will there be further fuel price hikes in the immediate future?
- What specific measures are being considered by the Indian government to mitigate the impact of rising fuel costs?
- What is the likelihood of the ongoing protests by transport unions leading to a rollback of fuel hikes or fare revisions?
