CNG price hiked by Rs 2 per kg; rates up by Rs 19.60 per kg in two months

The price of CNG in the national capital on May 21 was hiked by Rs 2 per kg the 13th increase in rates in just over two monthsCNG in the national capital territory of Delhi now costs Rs 7561 per kg up from Rs 7361 per kg according to the information posted on the website of Indraprastha Gas Ltd IGL the firm which retails CNG and piped cooking gas in the national capital and adjoining citiesThis is the 13th increase in price since March 7 In all the CNG price has risen by Rs 1960 per kg during this period In the last one year prices have increased by Rs 3221 per kg or 60 per cent according to data compiled by PTI However the rates of gas piped to household kitchens called piped natural gas PNG remain unchanged at Rs 4586 per scmCity gas distributors have been periodically raising prices since October last year when domestic as well as international gas prices started to climb as economies around the world recovered from the pandemicinduced slowdownIGL Managing Director Sanjay Kumar said the prices are likely to remain elevated in the near future due to high international prices of natural gasCNG prices rose by Rs 874 per kg in the last three months of 2021 and from January there was a steady increase of about 50 paise a kg almost every weekThe rates have gone up after the government more than doubled the price of natural gas produced locally to USD 61 per million British thermal unit from April 1With domestically produced gas not sufficient to meet city gas demand imported fuel LNG is being used LNG in the spot or current market costs USD 1820 per mmBtu Natural gas when compressed becomes CNG for use as fuel in automobiles The same gas is piped to household kitchens and industries for cooking and other purposesMahanagar Gas Limited MGL has priced Compressed Natural Gas CNG at Rs 76 per kg in Mumbai Prices vary from city to city depending on the incidence of local taxes such as VAT The increase in CNG prices follows a Rs 10 per litre hike in petrol and diesel prices in 16 days and a Rs 10350 per cylinder increase in the cooking gas LPG ratesThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever