Fuel Price Shock! After Petrol-Diesel, CNG Price Hike For The Third Time In 10 Days | Check May 23 Rates

Fuel Price Shock: After the petrol and diesel price hike, rates of Compressed Natural Gas (CNG) increased by Re 1 per kilogram on Saturday, May 23. The latest CNG price hike came after Rs 2 per kg hike announced on May 15 and another Re 1 per kg hike on May 17.

With the CNG price hike on May 23, prices in Delhi breached the Rs 80-per-kg mark for the first time. Petrol and diesel are also becoming more expensive again as global energy costs climb due to tensions in West Asia and disruptions near the Strait of Hormuz.

CNG Price Today in Delhi, Gurugram, Noida

CNG price in Delhi increased to Rs 81.09 per kg. Whereas, CNG rate today in Noida nad Ghaziabad increased to Rs 89.7 per kg. Gurugram CNG rates stood a Rs 86.12 per kg. The latest CNG rate jump comes after Rs 2 price hike on May 15 and Re 1 per kg jump on May 17.

Petrol, Diesel Price Hike

The ongoing West Asia crisis also pushed petrol and diesel prices higher in Delhi, Kolkata, Mumbai and other cities in India on Saturday. In Delhi, petrol prices increased by 87 paise to Rs 99.51 per litre from Rs 92.49 per litre from Rs 91.58. Petrol prices in Kolkata also saw the maximum hike on Saturday, where per litre of petrol became expensive by 94 paise to Rs 110.64 per litre. Diesel rate in Kolkata increased to Rs 97.02 per litre. Petrol price in Mumbai jumped to Rs 108.49 per litre and diesel price jumped by 94 paise to Rs 95.02 per litre.

In Chennai, petrol moved up 82 paise to Rs 105.31 per litre while diesel increased 87 paise to Rs 96.98 per litre, sources said.

Vehicles Queue Up At Fuel Stations After Fuel Price Hike

Following the third hike in CNG, petrol and diesel prices in ten days, most of the fuel stations saw long queues of vehicles. The recent fuel price hike is likely to increase the running costs for auto-rickshaws, taxis, public and private vehicles. The CNG hike will impact public transport fleets in cities like Delhi and Mumbai, where a large share of buses and cabs run on the fuel.

Fuel prices in India are revised based on international crude and gas rates, exchange rates, and local levies. The recent increases come amid elevated global energy prices due to ongoing West Asia tensions and supply concerns, which have kept both crude oil and natural gas markets volatile.