India's Fuel Price Conundrum Deepens Amid Global Turmoil The latest hike in Compressed Natural Gas (CNG) prices, coupled with increases in petrol and diesel costs, is a stark reminder of the perfect storm facing India's fuel market.
As global energy prices continue to rise due to escalating tensions in West Asia and disruptions around the Strait of Hormuz, the Indian government finds itself caught between managing the domestic economy and keeping pace with international markets.
CNG prices have surged by Re 1 per kg for the third time in less than 10 days, following increases on May 15 and May 17. This has pushed CNG costs to Rs 81.