: CNG price hiked by 80 paise, PNG by Rs 5 #finance #StockMarketNEWS #Business New Delhi: CNG price in the national capital on Friday was hiked by 80 paise per kg, while piped cooking gas rates were

Posted in: #finance #StockMarketNEWS #Business

CNG price hiked by 80 paise, PNG by Rs 5 #finance #StockMarketNEWS #Business
New Delhi: CNG price in the national capital on Friday was hiked by 80 paise per kg, while piped cooking gas rates were increased by a steep `5 per cubic metre on the back of the government raising input natural gas prices to record levels.

CNG price in the National Capital Territory (NCT) of Delhi has been increased to `60.81 per kg from `60.01, according to information posted on the website of Indraprastha Gas Ltd (IGL) the firm which retails CNG and piped cooking gas in the national capital.

This is the sixth increase in CNG prices in the last month. In all, rates have gone up by about `4 per kg.

The domestic PNG price has been increased by `5 per Standard Cubic Metre (SCM) with effect from April 1, 2022, partially cover the hike in input gas cost, the company said. The applicable price in Delhi would be `41.61/SCM (including VAT).

For Ghaziabad and Noida, the domestic PNG price has been increased by `5.85 to `41.71/SCM.

The increase comes on the back of a surge in gas prices globally.

IGL sources natural gas from domestic fields as well as buys imported LNG. LNG in the spot or current market touched record highs in recent months and on Thursday the government raised the price of gas produced from local fields to a record USD 6.10 per million British thermal unit from USD 2.9.

This has pushed costs for IGL, necessitating the price hikes, industry sources said.

CNG prices have gone up by about `8.50 per kg this year alone.

The increase in CNG and PNG prices follows `6.40 per litre hike in petrol and diesel prices in less than two weeks and a `50 per cylinder raise in the cooking gas LPG rates.

In Noida, Greater Noida and Ghaziabad, CNG will cost `63.38 per kg, while in Gurugram the price is `69.17 per kg.

Prices vary from city to city depending on the incidence of local taxes such as VAT.

A record 137-day hiatus in petrol and diesel price revision ended on March 22. On the same day, the price of a 14.2-kg LPG cylinder was increased to `949.50 in the national capital. In some places, the LPG price has touched `1,000.