Amid a national lockdown that has forced cars to stay firmly parked across the country, there is some reason to cheer as state-owned Indraprastha Gas Limited (IGL) has cut CNG prices by over ₹3 per kilogram in Delhi and NCR region.
In a statement issued, IGL has said that CNG price has been reduced by ₹3.20 per kilogram in Delhi while it has been cut by ₹3.60 per kilogram in Noida, Greater Noida and Ghaziabad. "The new consumer price of Rs. 42.0 per kg in Delhi and ₹47.75 per kg in Noida, Greater Noida and Ghaziabad would be effective from 6.00 am on 3rd April 2020," the company informed. "The revised CNG price in Muzaffarnagar would be ₹56.65 per kg, in Karnal would be ₹49.85 per kg and in Rewari and Gurugram would be ₹54.15 per kg."
Globally, crude prices have crashed significantly over the past several weeks due to a massive fall in demand, coupled with a spurt in production from countries like Saudi Arabia and Russia who are currently engaged in a tussle. This has made refining crude more expensive than crude itself in many parts of the world. Transport cost for a wide variety of items, therefore, has come down although this may not be a reason for the fall in CNG prices.
CNG pumps, much like petrol and diesel pumps, are open in India despite the lockdown. IGL continues to offer a 50 paise per kilogram cash-back during off-peak hours of 11am to 4pm and 12am to 6am if the transaction is done through an IGL Smart Card. It is estimated that the most-recent price cut will translate into savings of 56% over cars making use of conventional fuel.