The price of Compressed Natural Gas (CNG) in Delhi has been increased by Re 1 per kilogram, marking the second hike within 48 hours. This latest adjustment comes as energy markets continue to feel the impact of the closure of the Strait of Hormuz, a critical shipping route for oil and gas, amid the ongoing West Asia conflict.
Second Hike in Two Days
This is the second price increase in just two days, reflecting the mounting pressure on fuel supplies. The previous hike also saw a Re 1 per kg rise, putting additional burden on consumers who rely on CNG for their vehicles and daily needs.
Impact of Strait of Hormuz Closure
The closure of the Strait of Hormuz, a narrow passage connecting the Persian Gulf to the Arabian Sea, has disrupted global energy supplies. The ongoing conflict in West Asia has led to heightened tensions, affecting shipping lanes and causing volatility in energy prices worldwide. India, which imports a significant portion of its energy needs, has been particularly vulnerable to these disruptions.
Industry experts warn that further price increases may be inevitable if the situation persists. The CNG price hike is expected to affect not only individual consumers but also the public transport sector, which heavily relies on natural gas.
Authorities are monitoring the situation closely, but no immediate relief measures have been announced. Consumers are advised to plan their fuel expenses accordingly as the energy crisis continues to unfold.
