CNG Price In Delhi Hiked Again: Rates Jump ₹2 Per Kg To ₹83.09

(MENAFN- Live Mint) Compressed Natural Gas (CNG) prices in Delhi rose for the fourth time in under a fortnight on Tuesday, climbing by ₹2 per kg to reach ₹83.09 per kg - extending a rapid series of hikes that had already pushed rates up three times in 10 days, most recently to ₹81.09 per kg on 23 May.

Petrol prices were raised by ₹2.61 a litre and diesel by ₹2.71 on Monday, the fourth increase in less than two weeks that extended a delayed pass-through of soaring global crude oil costs triggered by the Iran conflict.

The latest increase took cumulative hikes since May 15 to nearly ₹7.5 per litre.

In Delhi, petrol prices rose to ₹102.12 per litre from ₹99.51, while diesel climbed to ₹95.20 from ₹92.49, according to industry sources.

Fuel prices have now reached their highest levels since May 2022 after remaining largely frozen for more than two years, barring a ₹2-per-litre cut in March 2024 ahead of national elections.

The hike came as global oil prices fell sharply amid tentative hopes for a deal to end the US-Israel war on Iran. Brent crude, the primary benchmark for global oil prices, fell more than 5 per cent after the US and Iran agreed in principle to reopen the Strait of Hormuz.

Global crude oil prices had surged more than 50 per cent since late February following US-Israeli strikes on Iran and disruptions to shipping through the Strait of Hormuz, a key global oil transit route.

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