CNG prices hiked by ₹2
What's the story
Compressed Natural Gas (CNG) prices in Delhi have been hiked by ₹2 per kg, taking the retail rate to ₹79.09 per kg from ₹77.09. The hike comes on the heels of a similar increase by Mahanagar Gas Limited (MGL) in Mumbai, which raised CNG rates by ₹2 per kg to ₹84 per kg. The price revision is likely to impact public transport costs and could lead to fare hikes for autorickaws, buses, and taxis.
Nationwide hike
Petrol, diesel prices increased by ₹3 per liter
The CNG price hike comes after oil marketing companies (OMCs) hiked petrol and diesel prices by ₹3 per liter each. In Delhi, petrol now costs ₹97.77 per liter (up from ₹94.77), while diesel is priced at ₹90.67 per liter (up from ₹87.67). The price increases are part of a nationwide revision that affects major metro cities like Kolkata, Mumbai, and Chennai as well.
Crisis impact
Brent crude hits $104.01 a barrel
The price hikes come amid a global energy crisis linked to the West Asia conflict, which has disrupted trade routes such as the Strait of Hormuz. The conflict has pushed up oil prices, with Brent crude reaching $104.01 a barrel and West Texas Intermediate hitting $97.84 a barrel. Union Petroleum and Natural Gas Minister Hardeep Singh Puri has assured that India will maintain stable fuel prices and uninterrupted energy supplies despite international disruptions.