Delhi CNG Price Hike October 2022: Indraprastha Gas Limited, a retailer of CNG in NCR including the national capital Delhi, has increased the prices of CNG by Rs 3 per kg. The biggest reason behind this is being told the record breaking increase in the prices of natural gas.
Inflation shock in festive season
The festive season is going on in the country right now. In such a situation, the price of CNG has been increased by IGL. In Delhi-NCR, the price of CNG has been increased by Rs 3 per kg on Friday evening, 7 October 2022. The new rates will be applicable from tonight. In the festive season, many types of expenses are incurred on the general public, due to the cost of CNG, the budget for the festival of the public can get spoiled. Also, traveling by CNG vehicle in Delhi-NCR will become expensive.
See how much the price increased
- With an increase of Rs 3 per kg in the capital Delhi, the price of CNG reached Rs 78.61 per kg.
- Now the price of CNG in Noida, Greater Noida and Ghaziabad is Rs 81.17 per kg
- CNG price in Gurugram is Rs 86.94 per kg
- CNG price in Rewari Rs 89.07 per kg
- 87.27 per kg CNG price in Karnal and Kaithal
- CNG price in Muzaffarnagar Rs 85.84 per kg
what is the reason
Let us tell you that the increase in the price of CNG was already being estimated. The central government last week increased the rate paid for gas produced from old gas fields to $8.57 per unit from the current $6.1 per million British thermal unit (per unit). At the same time, the price of gas extracted from difficult areas has been increased from $ 9.92 to $ 12.6 per unit.
Price increased 5 times in 1 year
Kotak Institutional Equities said the prices of gas produced from old gas fields have increased almost 5 times in just one year. Its price had risen from $ 1.79 per mmBtu in September 2021 to $ 8.57 in September 2021. For every dollar increase in MMBTU gas price, city gas distribution (CGD) entities have to increase the price of CNG by Rs 4.7 to 4.9 per kg.
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