In what may come as good news to gaseous fuel users in Delhi, the price of CNG has been slashed by Rs 2.5 per kg or a 3 percent reduction effective today. With this the retail price of CNG in Delhi stands at Rs 74.09 per kg.
This is the first time the price of CNG has come down in the last 11 months. Following the softening of international prices, there was an anticipation of reduction in CNG prices from early this year.
The slashing of price by Indraprastha Gas (IGL) in Delhi, comes a day after Mahanagar Gas revised its prices for CNG in Mumbai yesterday.
In the last one year the price of CNG has seen many ups and downs. In February 2023, the price of CNG was Rs 79.56 per kg, which came down to Rs 73.59 in April. The prices were constant till November when it was hiked by Rs 2 and a hike of Rs 1 was again seen in December 2023 bringing the price to Rs 76.59 per kg.
It is also important to note that just a few days ago, Oil Minister Hardeep Singh Puri, had said that the government was constantly making efforts to bring the prices of natural compressed gas under control. The government has also delinked Indian gas prices from the 4 international hubs based in the US, Canada, the UK and Russia, and aligned them to the Indian crude basket.
The reduction in CNG retail prices is expected to benefit primarily the transportation sector (three-wheelers and four-wheelers) in the country.
While the price cut may have started in Mumbai and Delhi, it may be extended to other parts of the country. Currently, Ajmer, Pali and Rajsamand pay the highest price for CNG at Rs 81.94 per kg.
