Noida: Indraprastha Gas Limited (IGL) has raised the prices of compressed natural gas used by automobiles by 55 paise in Noida, Greater Noida and Ghaziabad from Sunday.
The new consumer price is Rs 33.40/kg in Noida, Greater Noida & Ghaziabad, the company said in a statement. Rajesh Vedvyas, Managing Director IGL said that they are constrained to revise the retail price of CNG because of increase in the actual weighted average cost of gas in the current quarter. The company is buying a large quantity of costly regassified-lequified natural gas (R-LNG) from the spot market to meet rising demand which is three times costlier than locally produced gas.
He said this increase would have marginal impact on the running cost of CNG vehicles. Despite the aforesaid prices increase, CNG would still be 66% cheaper compared to petrol.