OIL & GAS

CNG prices to increase in Delhi, Noida, Ghaziabad from today

State run Indraprastha Gas Limited (IGL) on Monday increased the compressed natural gas (CNG) and piped natural gas (PNG) prices. This comes in the backdrop of India’ domestic cooking gas prices increased again. Effective 1 March, the price of a 14.2 kg non-subsidized Indane liquefied petroleum gas (LPG) cylinder in Delhi has been increased by ₹25 to ₹819.

“This revision in price would result in an increase of 70 paise per kg in the consumer prices of CNG in Delhi, Noida, Greater Noida, Ghaziabad, Kanpur, Fatehpur, Hamirpur, Muzzafarnagar, Shamli, Karnal, Kaithal and Rewari with effect from 6.00 am on 2nd March 2021,” IGL said in statement.

Also, transportation fuel prices are continuing with their upward trend, with petrol and diesel selling at record high prices.

“IGL has also announced increase in its domestic PNG prices with effect from 2nd March 2021. The consumer price of PNG to the households in Delhi has been increased by 91 paise per scm from ₹27.50 per scm to Rs. 28.41 per scm,” the IGL statement added.

Fuel retailers revise prices of LPG cylinders, which is primarily dependent on the international benchmark rate of LPG, and the US dollar and rupee exchange rate. The non-subsidized domestic cooking gas price has been increased in the backdrop of the finance ministry slashing the allocation for petroleum subsidy by two-thirds to ₹12,995 crore for FY22.

“IGL has been maintaining continuous and uninterrupted supply of clean fuels – CNG & PNG throughout the entire lockdown period during the pandemic,” the IGL statement added.

There has been a sharp jump in global energy prices after the Organization of the Petroleum Exporting Countries (Opec)-plus meeting on 3 February decided to continue with supply curbs.

Source
Livemint
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