CNG rate edges up

New Delhi: CNG price in the national capital and adjoining cities on Tuesday was hiked by Rs 0.50 per kg, while an imminent increase in petrol and diesel price has been put on wait-and-watch mode for more clarity on global oil prices.

CNG price in NCT of Delhi has been increased to Rs57.51 per kg from Rs 56.51, according to the information posted on the website of Indraprastha Gas Ltd - the firm which retails CNG and piped cooking gas in the national capital. Following the firming up of international gas rates, IGL has been raising CNG rates by up to 50 paise (Rs 0.50) per kg periodically. Prices have gone up by about Rs 4 per kg this year alone.

Apart from Delhi, CNG will be Re 1 per kg more expensive in Noida, Greater Noida, and Ghaziabad. From Tuesday, it will cost Rs 59.58 per kg. Rates differ from state to state depending on the incidence of local taxes. There is no rate change in Mumbai, where CNG costs Rs 66 per kg. IGL has not changed the price of piped cooking gas supplied to household kitchens. However, an increase in petrol and diesel prices, which was expected after the ending of the multi-phase polling in Uttar Pradesh, was not affected on Tuesday. Petrol costs Rs 95.41 a litre in Delhi and Rs 109.98 in Mumbai.

Diesel is priced at Rs 86.67 a litre in Delhi and Rs 94.14 in Mumbai. PSU fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) will watch the evolving situation internationally for a couple of more days before revising rates, three officials said. This decision follows marathon meetings company executives had with oil ministry officials late into Monday night. "We are watching the situation closely. We need to see if the current spike in international oil prices is a temporary phenomenon or is it here to stay," a senior executive with one of the three retailers said. The situation, he said, will be watched for "a couple of more days" before arriving at any decision on price revision. Fuel prices have been on a freeze for the past four months as five states including politically significant Uttar Pradesh went to the polls. This despite, rates swinging from $81.5 per barrel in early November to near $140 per barrel on Monday. International benchmark Brent was trading at around $127 per barrel on Tuesday.