After hike in rates of petrol, diesel and LPG, the prices of CNG and cooking gas piped to household kitchens (PNG) in the national capital were hiked last week by Re 1. CNG price in Delhi has been increased to Rs 59.01 per kg from Rs 58.01, according to the information posted on the website of Indraprastha Gas Ltd – the firm which retails CNG and piped cooking gas in the national capital.
This is the third increase in CNG rates this month, which follows a spike in input (natural gas) prices across the globe. On the previous two occasions, rates had gone up by Rs 0.50 per kg. Following the firming up of international gas rates, IGL has been raising CNG rates periodically. Prices have gone up by about Rs 5.50 per kg this year alone. Also, the price of piped natural gas that households get for cooking purposes has also been increased by Re 1 to Rs 36.61 per standard cubic meter in Delhi.
The increase follows Rs 1.60 per litre hike in petrol and diesel prices affected during the last two days and a Rs 50 per cylinder raise in the cooking gas LPG rates.
A record 137-day hiatus in petrol and diesel price revision ended on March 22, with an 80 paise per litre increase in rates and a similar proportion hike followed on Wednesday.
On March 22, the price of a 14.2-kg LPG cylinder was increased to Rs 949.50 in the national capital. In some places, the LPG price has touched Rs 1,000. Prices had been on a freeze since November 4, ahead of the assembly elections in states like Uttar Pradesh and Punjab – a period during which the cost of raw material (crude oil) soared by USD 30 per barrel. Oil companies are now recouping the losses. They “will need to raise diesel prices by Rs 13.1-24.9 per litre and Rs 10.6-22.3 a litre on gasoline (petrol) at an underlying crude price of USD 100-120 per barrel,” Kotak Institutional Equities said in a note.