State-owned oil companies raised compressed natural gas (CNG) prices by Rs 2 per kilogram on Friday, following recent hikes in petrol and diesel rates, as the global energy crisis intensified due to the ongoing conflict in West Asia. The price of CNG in Delhi has increased from Rs 77.09 per kg to Rs 79.09 per kg, according to reports.
Fuel Price Increases Across Metropolitan Cities
This development comes a day after Mahanagar Gas Limited raised CNG prices by Rs 2 per kg across the Mumbai Metropolitan Region (MMR). The latest adjustments follow a Rs 3 per litre increase in both petrol and diesel prices, pushing fuel rates higher in major metro cities across India.
In the national capital, petrol now costs Rs 97.77 per litre, up from Rs 94.77, while diesel prices have risen to Rs 90.67 per litre from Rs 87.67, as reported by ANI. According to PTI sources, the latest increase is only a fraction of the hike required to fully offset the sharp rise in global energy prices since the outbreak of the West Asia conflict.
Fuel Prices in Metro Cities
- Delhi: Petrol Rs 97.77 per litre (increase of Rs 3.00), Diesel Rs 90.67 per litre (increase of Rs 3.00)
- Kolkata: Petrol Rs 108.74 per litre (increase of Rs 3.29), Diesel Rs 95.13 per litre (increase of Rs 3.11)
- Mumbai: Petrol Rs 106.68 per litre (increase of Rs 3.14), Diesel Rs 93.14 per litre (increase of Rs 3.11)
- Chennai: Petrol Rs 103.67 per litre (increase of Rs 2.83), Diesel Rs 95.25 per litre (increase of Rs 2.86)
Fuel prices had largely remained unchanged since April 2022, except for a one-time reduction of Rs 2 per litre each in petrol and diesel announced in March 2024 ahead of the Lok Sabha elections.
Global Energy Crisis and Impact on India
The price revision comes amid growing concerns over global energy supplies after the conflict in West Asia disrupted trade routes, including the strategically important Strait of Hormuz. Oil prices have continued to soar since the Middle East conflict began, squeezing the crucial Strait of Hormuz. Earlier on Monday, Brent crude was up 2.69% to $104.01 a barrel, while West Texas Intermediate rose 2.54% to $97.84 a barrel.
Despite the global turmoil, the central government has maintained that there is no shortage of fuel in the country and no plan to introduce rationing of petrol, diesel, or LPG, despite disruptions in global energy shipments linked to the Iran conflict and the Strait of Hormuz crisis.
Government Assurance on Fuel Supply
On May 12, Union Petroleum and Natural Gas Minister Hardeep Singh Puri stated that India has ensured stable fuel prices and uninterrupted energy supplies despite rising crude oil prices and global disruptions. He also highlighted that the country has significantly increased domestic LPG production to meet growing demand.
The government continues to monitor the situation closely, with officials reassuring the public that adequate fuel reserves are in place to prevent any supply disruptions.
