The natural gas distribution company has announced a hike in the price of Compressed Natural Gas (CNG) by Rs 1 to Rs 3 per kg. In the capital Delhi, its prices have been increased by ₹ 1 per kg, while in other cities the increase is Rs 3 per kg.

Indraprastha Gas Limited (IGL) stock is expected to be in a good shape on Monday, April 7, as the company has announced to sell Compressed Unit Gas (CNG) at Rs 1 to Rs 3 per lakh. The price in Delhi is ₹ 1 per kg, while in others it is ₹ 3 per kg. This is the first time CNG prices have increased in the Delhi market since June 2024.

Delhi accounts for 70% of IGL’s total CNG sales, while the remaining 30% comes from other markets. After the price hike, the price of CNG in Delhi has now reached ₹ 76.09 per kg. While in Noida and Ghaziabad it is ₹ 84.70 per kg. In November 2024, IGL had increased the price for markets other than Delhi.

Brokerage firm Jefferies had said in a February note on IGL that a price hike of Rs 2 per kg would be sufficient to maintain current margin levels. The price revision comes soon after the government announced a 4% hike in gas prices under the Administered Price Mechanism (APM).

APM gas prices have been fixed at $6.75 per mmBtu for the period April to September this year. Prices remained stable at $6.5 per mmBtu in the first three months of the year. This is the first increase in the price of APM gas since April 2023. This is in line with the recommendations made by the Kirit Parikh panel.

As per the panel’s recommendations, there was a provision for a 4% hike in gas prices from the third year of implementation, which was implemented from April 2023. It remains to be seen how big names like IGL and MGL react to the price hike. As of last Friday’s close, IGL shares were still down 30% from their peak. While MGL shares were down 33%.

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The post CNG Price Hike: CNG prices increased by 1 to 3 rupees per kg, know the rate in your city first appeared on Rightsofemployees.com.

This increase has been announced by Indraprastha Gas Limited (IGL). Now you have to pay Rs 79.56 for filling one kilogram of CNG in Delhi. Earlier on October 8, the price of CNG was increased in Delhi.

Last time the price of CNG was increased by Rs 3 per kg in Delhi. Since then, the price of CNG in Delhi had gone up to Rs 78.61/kg. Explain that CNG is available at Rs 86.94 per kg in Gurugram, Rs 81.17 in Ghaziabad, Noida-Greater and Noida, Rs 78.61 in Rewari and Rs 84.19 per kg in Faridabad.

Increase in prices is happening very fast

Let us tell you that since March this year till now this is the 15th time when the prices of CNG have been increased. Overall, the price of CNG has increased by Rs 23.55 per kg in 10 months. In April last year, the price of CNG was Rs 36.16 per litre, which has now reached almost Rs 80 in Delhi. The reason behind this is believed to be the adverse global conditions arising out of the Russia-Ukraine war. Along with this, speculations are also being made that the prices of CNG may increase further.

Who will be affected

The price of CNG has increased by about 80 percent since April 2021. Due to this, private vehicle drivers are not only affected, but also those people who use cab services have to face problems. Cab companies like Ola and Uber had already increased their minimum fares drastically and now after this increase, there is a possibility of increasing the fares once again. In such a situation, the burden on the pocket of those who travel by cab or auto every day to go to office may increase further.

Slight increase in the prices of petrol and diesel Despite the fall in the prices of crude oil in the international market, today the oil marketing companies have made petrol and diesel expensive in many other states of the country including Maharashtra and Chhattisgarh. The price of petrol and diesel in Maharashtra has been increased by about Re 1.

The post CNG Price Increased: CNG price increased in Delhi NCR, check the latest rate first appeared on Rightsofemployees.com.