IGL (Indraprastha Gas Limited) - A simple analysis of PNG prices up by Re 1 per unit in Delhi-NCR!

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After LPG, PNG prices up by Re 1 per unit in Delhi-NCR by IGL
क्या Daily Revision की वजह से Delhi में Petrol ₹100 से भी महंगा होगा?

Indraprastha Gas Ltd late on Wednesday night raised PNG prices in the national capital and adjoining cities by Re 1 to pass on the increase in “input” costs.

This means more expensive cooking fuel for the nearly 1.68 million domestic households that use IGL’s PNG across the country

The increase in PNG prices comes a day after fuel retailers raised LPG price by Rs 50 per cylinder and began increasing petrol and diesel rates in the wake of the spike in global gas and oil prices respectively.

After the hike, PNG will cost Rs 36.61 per unit (SCM, or standard cubic metre) in Delhi and Rs 35.86 per unit in Ghaziabad, according to messages sent to consumers.

The IGL had on March 8 raised CNG prices by 50 paisa per kg but left PNG prices unchanged.

CNG now costs Rs 57.51 per kg in Delhi and Rs 59.58 per kg in Ghaziabad and Noida.

IGL executives had earlier told that it had to raise the share of imported gas in sales as the allocation of domestic gas has proven inadequate in meeting rising demand.

The appreciation in imported gas price and dollar exchange rate in the wake of the Russia-Ukraine conflict have raised operational costs, prompting the upward revision in prices.

Yesterday, reports had suggested that Gujarat Gas has announced a price hike of Rs 3 in compressed natural gas (CNG) and piped natural gas (PNG) segments. This implies a 4% increase in CNG and about an 8% rise in PNG prices.

Petrol and diesel increased for days straight on March 22 and 23, after a hiatus of more than four months on fuel rates across the country.

To recall, on November 4th, the government had announced a cut of Rs 5 per litre in excise duty on petrol and an Rs 10 per litre cut in excise duty on diesel to provide relief to customers against the soaring international crude oil prices.

In both occasions, petrol and diesel rates were increased by 80 paise.

With daily revisions coming into action again, it is expected that petrol price could soon touch the Rs 100 mark in the capital city, Delhi.

It was earlier reported that petrol and diesel in India were to witness a sharp rise after the results of polls in five states.

While the results were declared on March 10, there hasn't been much change in fuel prices

However, the restart of daily revision of fuel rates could result in a steep rise in petrol and diesel in the coming days

According to a report by JP Morgan, petrol and diesel prices are required to be hiked by Rs 9 a litre to bridge the gap created by international oil prices soaring past $100 a barrel

The report had come earlier this month, and since then, there has been a further increase in international fuel prices


Credit: Ticker Tape/Money Control

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