Compressed Natural Gas (CNG) prices were hiked by ₹2 per kg in New Delhi on Tuesday, marking the fourth increase in fuel rates in just two weeks as global energy markets remain under pressure due to prolonged geopolitical tensions in West Asia.
Following the latest revision by Indraprastha Gas Limited (IGL), CNG in Delhi will now cost ₹83.09 per kg, up from ₹81.09 per kg. Prices were also revised upward across the National Capital Region, with consumers in Noida, Ghaziabad and Greater Noida now paying ₹91.70 per kg, while rates in Gurugram rose to ₹88.12 per kg. In Ajmer, CNG prices increased to ₹92.44 per kg, while in Chennai it rose to ₹95 per kg.
The latest increase comes days after IGL had raised CNG prices by ₹1 per kg on May 23, which itself was the third hike within 10 days at the time. Since fuel price revisions resumed earlier this month after a prolonged freeze, petrol, diesel and CNG prices have all witnessed multiple increases.
On Monday, Oil Marketing Companies (OMCs) raised petrol prices by ₹2.61 per litre and diesel prices by ₹2.71 per litre, marking the fourth increase in less than two weeks. With that revision, cumulative increases in petrol and diesel prices since May 15 stood at nearly ₹7.5 per litre.
The repeated hikes come amid elevated global crude oil prices, supply concerns linked to disruptions around the Strait of Hormuz and continued volatility triggered by the ongoing conflict in West Asia. The strategically important route handles a significant share of global oil and gas trade, and fears of prolonged disruptions have sharply increased import costs for energy-dependent countries such as India.
Industry executives and government officials have said state-run oil companies have been under mounting financial pressure due to rising crude prices and rupee depreciation. Public sector oil firms had earlier indicated they were facing heavy under-recoveries as international crude prices surged from around $65-70 per barrel to above $100 per barrel during the conflict period.
Also Read: Petrol, Diesel price hike: Fuel rates increased for fourth time in less than two weeks
India, which imports nearly 85% of its crude oil requirements, had largely shielded consumers from the full impact of rising global energy prices for over two months before fuel price revisions resumed earlier this month.
