CNG prices rise again across Delhi-NCR amid Middle East crisis
Compressed Natural Gas (CNG) prices have been raised again across Delhi and nearby cities, with rates in the national capital climbing to Rs 80.09 per kg from Saturday morning.
The latest Rs 1-per-kg hike comes just two days after an earlier increase of Rs 2 per kg, taking the total rise to Rs 3 in less than a week.
Major fuel distributor Indraprastha Gas Limited said the revision was necessary to partially offset rising input gas costs and the sharp appreciation of the US dollar amid turmoil in global energy markets.
Strait of Hormuz crisis pushes up fuel costs
The fresh hike comes as global oil and gas prices remain under pressure following the continued closure of the Strait of Hormuz due to the escalating conflict in the Middle East.
The strategic shipping route handles nearly one-fifth of the world’s oil trade, and disruptions there have triggered fears of supply shortages worldwide.
CNG now costs Rs 88.70 per kg in Noida and Ghaziabad, Rs 85.12 in Gurugram, and over Rs 91 in Kanpur. Similar hikes were also recorded in Mumbai earlier this week.
Auto, cab fares likely to rise as oil companies face losses
The increase is expected to hit commuters directly, as thousands of autos, taxis and public transport vehicles in NCR run on CNG.
Autorickshaw unions in Mumbai have already demanded fare revisions following the fuel hike.
The rise also comes as state-run oil companies — Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited — continue to face mounting losses from expensive crude imports.
Reports suggest the firms have been losing nearly Rs 1,600 crore daily due to elevated global oil prices and delayed retail price revisions.
Prime Minister Narendra Modi had recently urged citizens to conserve fuel and adopt work-from-home practices where possible to help reduce fuel demand and foreign exchange outflows.
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