Consumers may have to bear the double whammy of increased LPG and CNG prices as both were increased on Sunday.
Consumers may have to bear the double whammy of increased LPG and CNG prices as both were increased on Sunday. While LPG prices are revised every month, compressed natural gas price witnessed the third hike in a row since April 2019. CNG prices were hiked by 55 paise per kg in Noida, Greater Noida and Ghaziabad. The same has been high due to rise in input cost as the US dollar strengthened against the Indian rupee. On the other hand, non-subsidised LPG will now be sold for an increased amount in the range of Rs 15.5-16 per cylinder in Delhi, Mumbai, Kolkata and Chennai, according to Indian Oil Corporation.
With the LPG hike, non-subsidized cylinders weighing 14.2-KG will cost Rs 590 in Delhi, up from Rs 574.5 in August. Similarly, in Kolkata, the LPG cylinder will cost Rs 616.5. For Mumbai and Chennai, the LPG cylinder will be sold at Rs 562 and Rs 606.5 respectively.
The revised CNG prices entail a hike of Rs 0.50 per kg in the consumer prices for various cities including Delhi, Rewari, Gurugram and Karnal. On the other hand, Noida, Greater Noida and Ghaziabad will see a rise of Rs 0.55 per kg, according to a statement by Indraprastha Gas Ltd (IGL), the city gas operator in the national capital region. The new price will be Rs 47.10 per kg in Delhi as against Rs 46.60 last month and Rs 53.50 per kg in Noida, Greater Noida and Ghaziabad. For automobiles in Gurugram and Rewari, CNG will be sold at Rs 58.95 per kg and in Karnal, it would be Rs 55.95, IGL said.
The latest price hike for CNG is eighth in the series since April 2018 and third since April 2019. The last hike was dolled out in July 2019 when the prices went northward by 90 paise per kg. In April 2019, the same saw a hike of Rs 1 per kg as prices of domestic natural gas spiked and the rupee’s value against the dollar fell. In total, the prices have increased by Rs 7.39 per kg since April 2018. However, the prices of piped natural gas (PNG) were not increased on the account of cooking purposes.
Meanwhile, crude oil prices were lower on Monday after new tariffs by the United States and China became effective and worries grew for a slump in global growth and demand for crude, Reuters reported. However, the price reduction in petrol in India has not been proportionate to the crude oil rate slip.