BAJAJ BROKING
IGL has increased CNG prices by ₹1/kg in Delhi, Noida, Greater Noida, Ghaziabad, and other regions, affecting transportation costs for various vehicles. The price hike extends beyond Delhi and its neighbouring areas. The prices hiked from ₹74.09/kg in Delhi to ₹75.09/kg.
Indraprastha Gas Limited (IGL) announced a price hike of ₹1 per kilogram (kg) for compressed natural gas (CNG) in Delhi, as well as in neighbouring cities and other markets. This adjustment marks the first increase in CNG prices in six months, impacting consumers and various sectors.
Before the increase, the price of CNG was ₹74.09 per kg in Delhi. With the hike, it now stands at ₹75.09 per kg. Similarly, in Noida, Greater Noida, and Ghaziabad, the price has been raised to ₹79.70 per kg from ₹78.70 per kg.
Explore: Indraprastha Gas Ltd Share Price
According to company executives, the hike is attributed to increased input costs. IGL has been relying more on imported and auctioned domestic gas, which is more expensive, to meet the growing demand. This shift has been necessary due to an inadequate supply of cheaper gas under government price control from ONGC’s fields.
The price hike extends beyond Delhi and its neighbouring areas. In Ajmer, Pali, and Rajsamand in Rajasthan, CNG prices have risen to ₹82.94 per kg from ₹81.94 per kg. Towns like Rewari in Haryana, Meerut, Muzaffarnagar, and Shamli in Uttar Pradesh, serviced by IGL, have also experienced increases in CNG prices.
The increase in CNG prices is expected to trigger demands for fare hikes by auto-rickshaw drivers, taxi operators, goods carriers, and bus operators. These stakeholders often pass on the increased operating costs to consumers, potentially impacting commuters and businesses relying on these modes of transport.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Share Market Today | Gift Nifty Signals 100-Point Gap Down, Nifty to Consolidate
06 Sep, 2024 | 4 Min. read
KEC International Secures ₹1,423 Cr Transmission Line Order in Saudi Arabia
06 Sep, 2024 | 1 Min. read
Ashoka Buildcon’s Viva Highways Monetises Pune Land for ₹453 Crore
06 Sep, 2024 | 2 Min. read
Peak Partners To Sell 11% Stake in Indigo Paints via Block Deal
06 Sep, 2024 | 2 Min. read
US Initial Jobless Claims Drop to 227,000 in August.
06 Sep, 2024 | 1 Min. read
Commodities Market Today | WTI Crude Steady at $69.18, Gold Rises 0.8% to $2,546
06 Sep, 2024 | 1 Min. read
Gold Rate Today | Gold Rises 0.8% to $2,546, Silver Gains 2% to $29.14
06 Sep, 2024 | 2 Min. read
Vodafone Idea Share Price Falls 11% After Goldman Sachs Report
06 Sep, 2024 | 1 Min. read
Suzlon Energy Share Price Rises After Corporate Office Sale
06 Sep, 2024 | 1 Min. read
Why is the Stock Market Down Today? Key Factors Explained
06 Sep, 2024 | 1 Min. read
Sona BLW Precision Forgings Plans ₹2,400 Crore QIP at ₹675-700 per Share
05 Sep, 2024 | 1 Min. read
Commodities Market Today | Crude Oil Drops, Brent Hits Low; Gold and Silver Rise
05 Sep, 2024 | 1 Min. read
Analysis to Become a Pro Investor
28 Dec, 2023 | 4 Min. read
Women In Real Estate Investing (Investree)
28 Dec, 2023 | 5 Min. read
How To Check Prudent Corporate Advisory IPO Allotment Status
27 Dec, 2023 | 3 Min. read
How To Boost Credit Score? – Steps to Improve Creditworthiness
27 Dec, 2023 | 4 Min. read
Advantages and Disadvantages of Opening Multiple Demat Accounts
26 Dec, 2023 | 4 Min. read
7th CPC LTC: Leave Travel Concession Rules for Central Government Employees
26 Dec, 2023 | 4 Min. read
7th Pay Commission: House Building Advance (HBA) Interest Rate FY 2023-24
26 Dec, 2023 | 5 Min. read
The Future of Trading: Exploring Bajaj Broking’s Demat Features
26 Dec, 2023 | 6 Min. read
7th Central Pay Commission Cpc Fitment Table
23 Dec, 2023 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading