INDIA: On Wednesday, April 6, gasoline and diesel prices were raised for the fifth day in a row across the country. Both petrol and diesel prices in the national capital have been hiked by 80 paise each.
Indraprastha Gas Limited (IGL) has increased the price of compressed natural gas (CNG) in Delhi by Rs 2.50 per kilogram.
Following the recent price hike, petrol now costs Rs 105.41 per litre in Delhi, while diesel costs Rs 96.67. Petrol costs Rs 120.51 in Mumbai’s financial hub, while diesel costs Rs 104.77, according to data on the Indian Oil Corporation’s website.
Both petrol and diesel prices in the national capital have been raised by Rs 3.60 per litre so far in April. They were lifted by Rs 6.40 per litre last month after nine hikes in ten days when daily adjustments in car gasoline prices began on March 22 after a record 137-day hiatus.
The cost of gasoline and diesel varies from state to state, based on local taxes (VAT) and freight expenses. Apart from that, motor fuels are subject to an excise levy imposed by the federal government.
The average price of benchmark fuel in the worldwide market over the previous 15 days, as well as foreign exchange rates, are used by OMCs to revise rates of petrol and diesel on a daily basis.
Hike in CNG prices
The price increase for CNG comes just two days after a similar increase of Rs 2.50 per kilogram.
According to statistics accessible on the IGL website, the current CNG price in Delhi is Rs 66.61 per kilogram, following the most recent price revision.
The revised CNG price in Noida, Greater Noida, and Ghaziabad is Rs 69.18 per kg, while it is Rs 73.86 per kg in Muzaffarnagar, Meerut, and Shamli. The revised CNG price in Gurugram is Rs 74.94 per kg, and it is Rs 77.07 per kg in Rewari.
The updated CNG price in Karnal and Kaithal is Rs 75.27 per kilogram, while the revised CNG price in Kanpur, Hamirpur, and Fatehpur is Rs 78.40 per kilogram. The revised CNG price in Ajmer, Pali, and Rajsamand is Rs 76.89 per kilogram.
CNG prices have risen for the eighth time in the last month.
Overall, rates have risen by around Rs 9 per kilogram.
Oil futures were neutral on Wednesday in the international market, recovering from early losses, as the potential of fresh penalties against Russia stoked supply concerns, counteracting fears of weaker demand following a build in US crude stockpiles and Shanghai’s extended lockdown.
Brent oil futures were trading at $106.75 a barrel, up 11 cents (0.1%) from $105.06 earlier in the day. After falling as low as $100.37 in early trade, US West Texas Intermediate futures lost 11 cents (0.1%) to $101.85 a barrel, according to the report.