Indraprastha Gas Limited (IGL) on Tuesday announced another increase in compressed natural gas (CNG) prices, raising rates in Delhi by Rs 2 per kg. The move marks the fourth hike in less than two weeks, extending a rapid sequence of fuel-price revisions that has affected commuters and transport operators across the capital and other major cities. The latest increase follows a Re 1 per kg hike announced on Saturday, adding to the pressure on households and businesses already coping with higher mobility costs.
The repeated revision in CNG rates is likely to hit users of CNG-powered vehicles, especially in cities such as Delhi and Mumbai, where buses, taxis and other commercial vehicles depend heavily on the fuel. With CNG widely used as a comparatively cheaper and cleaner transport option, the fresh increase is expected to raise operating expenses for fleet owners and daily commuters alike.
At the same time, oil marketing companies also raised petrol and diesel prices for the fourth time in under two weeks. The latest round of increases comes amid volatility in global crude oil markets and continuing geopolitical tensions in the Middle East, which have kept energy prices elevated and added to uncertainty in fuel supplies.
In Delhi, petrol prices rose by Rs 2.61 per litre to Rs 102.12, while diesel became costlier by Rs 2.71 per litre to Rs 95.20. Kolkata saw one of the sharpest hikes among major cities, with petrol increasing by Rs 2.87 to Rs 113.51 per litre and diesel by Rs 2.80 to Rs 99.82 per litre. In Mumbai, petrol prices climbed by Rs 2.72 to Rs 111.21 per litre, while diesel rose by Rs 2.81 to Rs 97.83 per litre. Chennai also recorded a rise, with petrol going up by Rs 2.46 to Rs 107.77 per litre and diesel by Rs 2.57 to Rs 99.55 per litre.
The latest increase adds to a series of fuel price revisions announced earlier this month. Petrol and diesel were first raised by Rs 3 per litre each on May 15. That was followed by another hike of 90 paise per litre on May 19. On May 23, petrol prices increased by 87 paise per litre and diesel by 91 paise per litre.
Fuel prices in India are influenced by international crude oil and gas rates, currency movements and domestic taxes. Rising crude prices, reportedly moving toward the $100 per barrel mark from about $70 before the conflict, have put further strain on pricing. The successive hikes are expected to increase logistics and transportation costs, which may eventually be passed on to consumers through higher prices for goods and services, along with increased daily commuting expenses.
Meanwhile, the Centre absorbed a revenue impact of nearly Rs 14,000 crore after cutting excise duty on petrol and diesel, according to the petroleum ministry. The excise duty reduction of Rs 10 per litre on both fuels was announced on March 27 after a sharp rise in global crude prices linked to tensions in the Middle East.
