CNG price hiked by Rs 2 per kg in Delhi-NCR

Indraprastha Gas Limited (IGL) has again hiked the prices of CNG (compressed natural gas) prices by Rs 2 per kg in Delhi-NCR (National Capital Region) from Saturday.

Now, CNG will cost Rs 75.61 per kg, while in Noida, Greater Noida and Ghaziabad, the price has been hiked to Rs 78.17 per kg.

In Gurugram, CNG will cost Rs 83.94 per kg after the hike.

This is notably the 13th increase in rates in just over two months.

In an official statement, the company said the rates of CNG are expected to stay elevated in the near future due to high prices of natural gas in the international market and added that management was looking at cutting operational costs to soften the blow for consumers.

Limited availability of government-controlled gas has forced IGL to use more LNG to meet double-digit growth in CNG and PNG (piped natural gas) demand.

This has raised input cost, which is expected to go up as demand rises further.

Meanwhile, LNG prices are still around double the normal rate at USD 20 per unit, and the rates are expected to rise further if summer is unusually warm in the western hemisphere.

Domestic gas prices are also expected to rise further in October.