Kamal Ghorui
NEW DELHI: After petrol and diesel prices were hiked, state-owned oil companies on Friday increased CNG prices by Rs 2 per kg, amid rising global energy crisis linked to the West Asia conflict.In Delhi, the price of CNG has been raised from Rs 77.09 per kg to Rs 79.09 per kg. The move comes a day after Mahanagar Gas Limited raised CNG prices across the Mumbai Metropolitan Region (MMR) by Rs 2 per kg, IANS reported.This development comes after petrol and diesel prices were hiked by Rs 3 per litre in petrol and diesel prices, pushing fuel rates higher across major metro cities.According to ANI, petrol in the national capital will now cost Rs 97.77 per litre, up from Rs 94.77, while diesel prices have risen to Rs 90.67 per litre from Rs 87.67.The latest increase is only a fraction of the hike required to fully offset the sharp rise in global energy prices since the outbreak of the West Asia conflict, PTI sources reported.
Petrol and diesel prices in metro cities
Fuel prices had largely remained unchanged since April 2022, except for a one-time reduction of Rs 2 per litre each in petrol and diesel announced in March 2024 ahead of the Lok Sabha elections.The price revision comes amid growing concerns over global energy supplies after the conflict in West Asia disrupted trade routes, including the strategically important Strait of Hormuz.Oil prices have continued to soar ever since the Middle East conflict began, squeezing the crucial Strait of Hormuz. Earlier on Monday, Brent crude was up 2.69% to $104.01 a barrel while West Texas Intermediate, rose 2.54% to $97.84 a barrel. Despite the global turmoil, Centre has maintained that there is no shortage of fuel in the country and no plan to introduce rationing of petrol, diesel or LPG despite disruptions in global energy shipments linked to the Iran conflict and the Strait of Hormuz crisis.On May 12, Union petroleum and natural gas minister Hardeep Singh Puri said India had ensured stable fuel prices and uninterrupted energy supplies despite rising crude oil prices and global disruptions, while also significantly increasing domestic LPG production to meet growing demand.
