Wednesday, 4 April 2012

By Rs 4.7 LPG prices raised by Rs 6,CNG gets dearer

Auto Industry is still suffering from the aftermaths of the Union Budget this year. A fortnight after as the scars were just starting to heal, the price hike on LPG and CNG have invigorated them. The prices of LPG (liquified petrol gas) has been raised by Rs.6 per litre, taking the earlier price of Rs.43.65 to Rs. 49.72.  Whereas, CNG (compressed natural gas) has seen a surge of Rs.4.70 per kg and the price now lay at Rs. 50.20 per kilogram from the prior Rs.45.50 per kilogram. Indian government has hiked the prices of these fuels in lieu of the global crude oil price trudge and the deprecating value of India rupee in comparison to the US dollar.
The prices have surged for the third time in less than three months and definitely the auto rickshaw drivers as well car owners who opted for LPG or CNG as they were economically in the soaring petrol prices world. They would have to look for a new option, as the economical factor will soon go amiss. The public sector oil marketing companies amend LPG prices every month by keeping the local prices parallel to the international crude oil prices. As a result, whenever there is a price hike in the international crude oil value, it directly affects the Indian market price of LPG and CNG used in automobiles. LPG and CNG although will still remain a option for environment friendly people as both the fuel have low tail pipe emissions and burn clean that Petrol and Diesel.Automobile News

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