Fourth CNG price rise: IGL hikes rates by Rs 2 across NCR region

Indraprastha Gas Limited (IGL) connected Tuesday announced different summation successful Compressed Natural Gas (CNG) rates, taking the tally of hikes to 4 wrong a span of little than 2 weeks.

The latest revision saw CNG prices spell up by Rs 2 per kg. The latest summation comes aft IGL raised CNG prices by Rs 2 per kg past week connected Saturday. Prior to that, rates had gone up by Rs 2 per kg connected May 15, followed by different Re 1 summation connected May 17. The repeated emergence successful CNG prices comes amid higher planetary vigor prices linked to the ongoing Middle East struggle and disruptions astir the Strait of Hormuz. Meanwhile, lipid selling companies (OMCs) connected Monday announced different summation successful petrol and diesel prices, taking the cumulative emergence to astir Rs 7.5 per litre.

Petrol prices were raised by Rs 2.61 per litre and diesel by Rs 2.71 per litre, marking the 4th substance terms summation successful little than 2 weeks.Also work | With 4th hike successful 11 days, petrol crosses Rs 100 a litre successful capital In the nationalist capital, petrol prices climbed from Rs 99.51 per litre to Rs 102.12, portion diesel rates roseate from Rs 92.49 per litre to Rs 95.20, according to manufacture sources. The continued emergence successful substance prices is expected to summation unit connected proscription costs and household budgets arsenic consumers look higher expenses amid volatility successful planetary vigor markets.

Meanwhile, the Middle East struggle that began backmost connected February 28 with US and Israel launching associated strikes connected Iran, has continued to intensify. After the attack, Iran tightened its noose connected the strategically important Strait of Hormuz, pipeline that carries 20% of world's substance supplies, sending ripples crossed the world.