In line with the increase in the price of natural gas input, the national capital's CNG and cooking gas rates hiked by Rs 3.As a result, on Saturday, October 8, 2022, at 6 am, the cost of CNG will go up in several north Indian towns, including Delhi, Noida, Greater Noida, Gurugram, and Ghaziabad. Prices would also rise in cities like Karnal, Kanpur, and Muzaffarnagar.
Compressed natural gas (CNG) price has increased by Rs 3 per kg for the first time in more than four months, while piped natural gas (PNG) has risen by Rs 3 per standard cubic meter for the first time in two months.
According to information on the website of Indraprastha Gas Ltd (IGL), the company that sold CNG and pipelines of cooking gas in the national capital and neighboring cities, CNG in Delhi now costs Rs 78.61 per kg, up from Rs 75.61 per kg.
According to IGL, the price of gas piped into residential kitchens, or piped natural gas (PNG), increased from Rs 50.59 per standard cubic meter to Rs 53.59 per SCM. Since August 2021, PNG rates have increased ten times. Overall, prices increased by Rs 29.93 per square meter or over 90%.
IGL claimed that CNG and PNG prices have also increased in its locations, including Kanpur in Uttar Pradesh and Ajmer in Rajasthan, as well as Noida, Greater Noida, Ghaziabad, and Gurugram.
The price hike comes after the government increased the cost of natural gas by 40%, to a record-high USD 8.57 per million British thermal units, beginning on October 1.
Compressed natural gas (CNG), made from natural gas that is taken from beneath the earth's surface, is then used to power vehicles and pumped into homes' kitchens for cooking. In addition, it is utilized to produce fertilizer and electricity.
This week, the city gas provider for Mumbai and surrounding areas, Mahanagar Gas Ltd (MGL), announced increases in the prices of CNG and PNG of Rs. 6 per kg and Rs. 4 per sqm, respectively.
Analysts predict that CNG prices will likely increase by Rs 8–12 per kg and PNG rates by more than Rs 6, but in installments to cover the increase in the cost of input natural gas. Since September 2021, natural gas prices have increased by over five times, from USD 1.79 per mmBtu to USD 8.57.
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