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CNG Price Hike: The people of Delhi have got a big shock amid the rising and falling prices of petrol and diesel. Let us tell you that Indraprastha Gas Limited (IGL) said late on Friday night that the prices of CNG will increase by Rs 3.89 per kg in Delhi and surrounding cities from 6 am on August 29. After this increase, the price of CNG in Delhi will increase from Rs 83.09 per kg to Rs 86.98 per kg.

Why did CNG prices increase?

For your information, let us tell you that IGL said that this increase is due to the huge increase in the prices of International Liquefied Natural Gas (LNG) amid the ongoing conflict in West Asia. The company said that a large part of the gas used for CNG comes from imported LNG, and its prices in the spot market have increased rapidly since the conflict began.

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CNG prices increased due to cost of LNG

IGL said, “International LNG prices remain at high levels and the cost impact has increased significantly, hence an increase of Rs 3.89 per kg has become necessary to partially compensate for the increase in input gas costs.” The company also said that the new prices will be applicable from 6 am on Saturday. This latest increase comes after the Re 1 per kg increase announced on May 17. This will increase the cost of fuel for owners of private vehicles as well as operators of autos, cabs and other commercial vehicles in the Delhi-NCR region. The increase comes amid a broader surge in global energy prices following the Iran war and blockages around the Strait of Hormuz, a vital route for global oil shipments. Since late February, when tensions in the region increased, there has been a huge surge in global crude oil prices.

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