The steady fuel hikes since May have left the country suffering in terms of being able to afford it. Petrol, diesel and LPG prices stand at an all-time high in the country and show no signs of slowing down in the near future. International crude oil prices have been in severe flux and domestic prices are shooting through the roof as a result. In a series of tweets on June 8, Indraprastha Gas Ltd put out a notice that the price of compressed natural gas (CNG) stands revised, with effect from 6 am today.
The CNG retail price in Delhi stands revised as Rs 44.30 per kilogram, which stands as a significant increase over the previous Rs 43.40 per kilogram. These revisions will bear an increase of 90 paise per kilogram in the consumer price for CNG. The prices of CNG in other places like Muzzaffarnagar & Shamli stands at Rs 57.25 per kilogram. In Gurugram the price is Rs 53.40 per kilogram. Rewari holds a price of Rs 54.10 per kilogram and Karna has a revised price of Rs 51.38 per kilogram. Kaithal has a price rate of Rs 51.38 per kilogram. Kanpur, Hamirpur & Fatehpur stand at a revised rate of Rs. 60.50 per kilogram. In Noida, Greater Noida & Ghaziabad, the revised CNG price from today has been revised and set at Rs 49.98 per kilogram from the previous Rs 49.08 per kilogram.
PNG domestic price to be set at Rs 29.61 per SCM as of today in Noida, Greater Noida and Ghaziabad. The domestic PNG domestic price in Delhi is revised to be Rs 29.66 per standard cubic metre (SCM) including value added tax (VAT). In Karnal and Rewari, the price of PNG stands at Rs 28.46 per SCM. While in Muzaffarnagar, Meerut & Shamli the rate stands at Rs 32.67 per SCM including the VAT. Indraprastha Gas also put out a tweet stating that customers will have to pay a Rs 6,000 refundable security deposit and a Rs 10,000 refundable consumption security deposit for the PNG. This change is set to take effect from April 1.
Indraprastha Gas has also introduced a new scheme for cashback offers of Rs 15.00 when PNG customers use the self-billing option through the IGL Connect Mobile App. They also offer a cashback of 50 paise per kilogram for CNG fueling done at the IGL CNG stations via the IGL Smart Cards between 12 am and 6 am.
International crude oil prices fell again as Brent crude settled at $73.43 a barrel, falling $1.10, or 1.5 per cent and US West Texas Intermediate went to $72.20 a barrel, loosing $1.17 or 1.6 per cent. This severe flux of prices comes in light of the rising tensions after the failed talks by OPEC+.