Piped cooking gas price hiked in Delhi, Gurugram, Noida: Check latest rates in your city
Piped cooking gas in Delhi will now cost Rs 50.59 per standard cubic meter, as against Rs 47.96 previously, according to Indraprastha Gas Ltd - the firm that retails CNG to automobiles and piped cooking gas to households in the national capital and adjoining towns
The price of cooking gas piped to household kitchens in the national capital and adjoining cities was hiked by Rs 2.63 per unit on Friday, the second increase in rates in less than two weeks.
Piped cooking gas in Delhi will now cost Rs 50.59 per standard cubic meter, as against Rs 47.96 previously, according to Indraprastha Gas Ltd - the firm that retails CNG to automobiles and piped cooking gas to households in the national capital and adjoining towns.
This is the second hike in prices in less than two weeks. Rates were last revised on July 26, by Rs 2.1 per scm.
The increase is to "partially offset the increase in input gas cost," IGL said in a tweet.
In order to partially offset the increase in input gas cost, the price of domestic PNG in Delhi is being revised to Rs.50.59/- per SCM, w.e.f.,5th August 2022.
— Indraprastha Gas Ltd (@IGLSocial) August 4, 2022
Domestic PNG Retail Prices (w.e.f, 5th August 2022)
1) NCT of Delhi – Rs.50.59/- per SCM
2) Noida, Greater Noida & Ghaziabad – Rs. 50.46/- per SCM
3) Karnal & Rewari – Rs.49.40/- per SCM
4) Gurugram – Rs.48.79/- per SCM
5) Muzaffarnagar, Meerut & Shamli – Rs.53.97/- per SCM
6) Ajmer, Pali & Rajsamand - Rs.56.23/- per SCM
6) Kanpur, Hamirpur & Fatehpur - Rs.53.10/-per SCM
The increase follows the government mandating the use of costlier imported LNG to meet incremental demand. State-owned GAIL averages out the rates of gas produced locally with the imported one before supplying to city gas retailers like IGL.
Similar increases in piped cooking gas (called piped natural gas or PNG) have been affected by city gas retailers in other parts of the country.
In Mumbai, Mahanagar Gas Ltd hiked CNG price by Rs 6 per kg and PNG by Rs 4 a unit.
"Due to the significant increase in input gas cost, we have decided to recover the cost. Accordingly, we've increased the retail price of CNG to Rs 86 per kg and hiked domestic PNG by Rs 4 to Rs 52.50 in and around Mumbai," MGL said in a statement.
However, IGL has not increased CNG price and it continues to cost Rs 75.61 per kg.
IGL said PNG in Noida, Greater Noida and Ghaziabad, which adjoin Delhi, will cost Rs 50.46 per scm, while in Gurugram it will be priced at Rs 48.79 per scm.
Rates differ from state to state depending on local taxes.
Natural gas is the basic input for CNG and PNG.
Domestic production of natural gas is insufficient to meet demand and India imports roughly half of its needs in the form of liquefied natural gas (LNG).
While the price of domestically produced natural gas was increased to USD 6.10 per million British thermal units for the six month period beginning April 1, international LNG rates shot to record high in the aftermath of Russia's invasion of Ukraine. LNG in the spot or current market currently costs upwards of USD 30.
GAIL mixes about 2.5-3 million standard cubic meters per day of LNG with volumes available from domestic fields for supply city gas operators like IGL and MGL. The pooled rate is fixed every month. For
August, the pooled price is USD 10.52 per mmBtu, up from USD 8.95 in the previous month.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
12:49 PM IST