|
CNG prices raised up to Rs.2 a kg in NCR
Friday December 30, 2011 07:21:59 PM,
IANS
|
|
New Delhi:
The price of compressed natural gas (CNG) will go up by Rs.1.75 a
kg in Delhi and by Rs.2 in Noida, Greater Noida and Ghaziabad from
midnight Friday following depreciation of the rupee against the
dollar that has made the import of gas costlier.
Indraprastha Gas Ltd (IGL), sole distributor of CNG in the
national capital region, said the gas will cost Rs.33.75 a kg in
Delhi. In Ghaziabad, Noida and Greater Noida consumers will have
to pay Rs.37.90 for a kg of CNG.
IGL Managing Director M. Ravindran said the company was compelled
to increase the price because of the recent depreciation in the
value of the rupee against the dollar.
"We have been forced to increase the retail price of CNG due to
major increase in the input cost of entire pool of natural gas
being sourced by us as a result of recent appreciation of dollar
vis-à-vis rupee and the increased dependence on imported Spot
R-LNG."
IGL estimates that the increase for auto rickshaws would be 5
paise per km and for taxis 8 paise per km. In case of buses, the
increase would be 50 paise per km, which translates to less than
one paisa per passenger per km.
But observers say the hike in CNG price will make commuting
costlier in the national capital region.
As per the government directive, all light commercial vehicles and
most buses run on CNG in the Delhi region.
Prices of CNG have been hiked for the fifth time this year. The
last hike was Oct 1, when it was increased by Rs.2 per kg in
Delhi.
The Indian rupee has depreciated by almost 20 percent against the
US dollar in the last five months. As a result of this, IGL has to
pay more to import gas.
Ravindran said the base price of natural gas procured by IGL from
all its sources - administered price mechanism (APM), KG-D6, long
term R-LNG as well as Spot R-LNG was in US dollar. "Dollar has
appreciated by 14 percent vis-à-vis rupee since the last price
revision of CNG," he said.
He said with the allotted APM gas having already been fully
utilised and complete stoppage of KG-D6 supplies due to decrease
in production, "IGL is left with no other alternative but to
source costly Spot R-LNG to meet the ever increasing demand which
has contributed to higher cost of sourcing the gas."
IGL is a joint venture of GAIL, Bharat Petroleum and the Delhi
government. It runs 232 CNG stations in the NCR and plans to open
30 new outlets by the end of the current financial year.
|
|
|
|
Home |
Top of the Page |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Top Stories |
|
Lokpal bill drowns in Rajya Sabha amid chaos
The
much-awaited vote on the Lokpal bill fizzled out in the Rajya
Sabha amid chaos at midnight Thursday as the house was adjourned
sine die, leaving the government and opposition members at each
»
Political games cloud Lokpal bill's fate
Lokpal bill gets wobbly in Rajya Sabha |
|
|
|
Most Read |
|
 Cyclone Thane kills five in Tamil Nadu, Puducherry
Five people were killed as Cyclone Thane, packing a wind
speed of 140 kmph, made landfall on the coast between Cuddalore
»
Cyclone Thane makes landfall in Tamil Nadu
|
|
Dara Shikoh, Aurangzeb misunderstood: Pakistani-American expert
Lives of
two Mughal princes, Dara Shikoh and his younger brother Aurangzeb,
sons of emperor Shah Jahan, have been distorted by historians, a
Pakistani-American scholar has said.
Munis Faruqui, assistant professor at the South and Southeast
Asian Studies Department of the
» |
|
|
|
News Pick |
|
Lukewarm response to renovated Ghalib's haveli
Urdu poet Mirza Ghalib's 'haveli',
which was recently renovated by the government, seems to have
failed to please both the visitors and locals, who say the
restoration of the heritage building is a half-hearted attempt.
» |
|
Lok Sabha adjourned sine die, stormy session ends
The Lok
Sabha was adjourned sine die Thursday bringing an end to a stormy
winter session - half of which was lost to protests - during which
the government passed some key bills including the anti-graft
Lokpal legislation.
» |
|
Maharashtra Minorities Commission to get
judicial powers
In an important decision taken during the cabinet
meeting held yesterday, the Maharashtra government approved the
proposal to grant judicial powers to the state minorities
commission » |
|
|
|
Picture of the Day |
|
 |
|
Union Human Resource Development
Minister Kapil Sibal inaugurating the long awaited Aligarh
Muslim University (AMU) special centre at Malappuramm in
Kerala on December 24, 2011.
|
|
|
|
|
Comments
|
Quick links