CNG, piped cooking gas get cheaper in Delhi as Indraprastha cuts prices by up to Rs 6

The prices of CNG and piped cooking gas have been cut by up to Rs 6 in Delhi, Indraprastha Gas Limited (IGL) has announced. The revised gas prices will come into effect from today.

This is the first time in two years that gas prices have been reduced. The revised rates were announced after the government changed the pricing formula of natural gas earlier this week.

Now, instead of using rates in the four international gas hubs, the locally produced fuel is being benchmarked to the cost of imported crude oil subject to a cap of $6.5 per million British thermal unit. The pricing formula kicked in from Saturday with the oil ministry announcing a gas price of $7.92 per mmBtu for the remainder of the month. But due to the cap, the gas will cost only $6.5 to city gas retailers like IGL.

From tomorrow, CNG will be available in the national capital region for Rs 73.59 per kg, down from Rs 79.56, IGL said in a Twitter post. “The revised retail price of CNG in Delhi would be Rs 73.59 per kg wef 6 am on 9th April 2023," the tweet read. The revised retail price of CNG in Noida, Greater Noida, and Ghaziabad would be Rs 77.20 per kg, and Rs 82.62 per kg in Gurugram.