CNG price hiked by Rs 2 per kg; fourth hike in 2 weeks

The price of compressed natural gas (CNG) was increased by Rs 2 per kg on Tuesday, marking fourth revision in fuel rates in less than two weeks.CNG will now cost Rs 83.09 per kg.

Petrol and diesel prices rose by Rs 2.61 and Rs 2.71 per litre on Monday, the fourth hike in under two weeks, amid rising crude oil prices triggered by the West Asia conflict.

With the latest revision, cumulative increases in fuel prices since revisions resumed on May 15 have nearly reached Rs 7.5 per litre, raising concerns over inflation and higher transportation costs across sectors.

Following Monday’s hike, petrol in Delhi rose to Rs 102.12 per litre from Rs 99.51, while diesel climbed to Rs 95.20 from Rs 92.49, according to industry sources.

State-run fuel retailers, Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited, control nearly 90% of India's fuel retail market.

Federation of Automobile Dealers Associations (FADA) data indicates the shift towrds electric mobility in deeepening across vehicle categories following the fuel price hike.

The fuel price hike has intensified financial pressure on gig workers. They allege aggregator companies have failed to proportionately revise fares despite the steady increase