Following the latest revision, CNG prices in Delhi have risen to Rs 81.09 per kg, while consumers in Noida and Ghaziabad will now pay Rs 89.70 per kg.
The fresh increase in fuel prices comes amid mounting pressure on global energy markets due to escalating tensions in the Middle East and the continuing blockade of the Strait of Hormuz — a key global energy corridor that handles nearly 20% of the world’s oil and gas trade.
Fears of supply disruptions through the strategically important route have triggered a sharp rise in international crude oil prices, putting pressure on fuel pricing across several countries, including India.
Global crude oil prices have reportedly jumped from nearly $70 per barrel before the conflict to over $100 per barrel now. Despite the sharp surge in global rates, India has so far managed to keep domestic fuel price hikes relatively moderate compared to many other nations.
Government data shows that while several countries witnessed fuel price increases ranging from 20% to almost 100%, petrol and diesel prices in India have risen by only 3.2% and 3.4%, respectively.