The prices of Compressed Natural Gas (CNG) were hiked by Rs 2 per kilogram (kg), raising the bill to Rs 84 per kg in Mumbai, according to Mahanagar Gas Limited (MGL).
This comes soon after the Oil Marketing Companies (OMCs) hiked petrol and diesel prices by Rs 3/litre as they move to recoup mounting losses incurred due to higher global oil rates. A litre of diesel in Delhi will cost Rs 90.67 and petrol at Rs 97.77.
Also read: Petrol Diesel prices raised by up to Rs 3/litre
In the last few weeks, global oil prices have spiked at more than $120 per barrel, before pulling back to around $100 to $105 a barrel amid the near-closure and severe disruption of the Strait of Hormuz, triggered by the US-Israel war with Iran.
India is among the last major economies to raise retail fuel prices.
The CNG price hike follows a sharp jump in wholesale inflation in April, driven by higher prices of crude petroleum, natural gas, petrol, diesel and LPG.
In the latest Informal Group of Ministers (IGoM) chaired by Defence Minister Rajnath Singh, it was informed that India has 60 days of crude oil, 60 days of Natural Gas and 45 days of LPG rolling stock.
