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Falling rupee pushes up cost of CNG,cooking gas

The falling value of the rupee led to a rise in the prices of compressed natural gas (CNG) and piped natural gas (PNG),which were hiked in the national capital on Saturday

Written by Express News Service | New Delhi | Published: September 8, 2013 6:49:12 am

The falling value of the rupee led to a rise in the prices of compressed natural gas (CNG) and piped natural gas (PNG),which were hiked in the national capital on Saturday.

The hike is the second in two-and-half months for CNG. Indraprastha Gas Limited (IGL) said the steep appreciation of US dollar against the rupee in the last one month has resulted in a major increase in its input cost of gas,which has necessitated the increase in retail prices of CNG and PNG. IGL buys domestic as well as imported liquefied natural gas (LNG),both of which are billed in US dollars.

While the price of CNG was hiked by Rs 3.70 in Delhi, Noida,Greater Noida and Ghaziabad saw an increase of Rs 4.20 each. “The new consumer price of Rs 45.60 per kg in Delhi and Rs 51.55 per kg in Noida,Greater Noida and Ghaziabad would be effective from midnight Saturday,” a release from IGL stated.

The price of piped cooking gas for households has been hiked from Rs 24.5 per standard cubic metres (scm) to Rs 27.5 per scm for consumption of up to 30 scm in two months. This rate would be applicable from Sunday. For consumption beyond 30 scm,the rate in Delhi would be Rs 47.50 per scm.

“Due to differential tax structure in Uttar Pradesh,the price of domestic PNG in Noida,Greater Noida and Ghaziabad would be Rs 29 per scm up to consumption of 30 scm in two months. For consumption over 30 scm in two months,the rate would be Rs 49.70 per scm,” IGL said.

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