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CNG price likely to rise 8% over the year

By Religare
|

It has been informed that the cost of cooking and daily commuting in Delhi may witness a hike during this year. The sources have said that the prices of CNG might increase by 8% periodically this year.

Indraprastha Gas Ltd , which sells CNG (compressed natural gas) in the Capital and its eastern suburbs such as Ghaziabad, Noida and Greater Noida said that, "it is expected to raise retail price of the fuel sold to buses, taxis, autos and private vehicles by over Re 1 a kg every three months or so. By December, then, CNG price will go up by over Rs 4 a kg, or about 7-8%."

 

"The increase is inevitable because the quantity of gas under government control earmarked is insufficient to meet the growing demand," the company said.

As per the government documents, IGL is involved in buying gas imported via ships with the two fold prices when compared to the domestic fields.

Story first published: Friday, January 14, 2011, 12:32 [IST]
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