New Delhi: If you drive a CNG powered automobile, likelihood is you have got grow to be used to extraordinarily low gasoline prices in addition to eye-popping mileage.
However, because the saying goes, ‘all good things come to an end’.
The coronavirus pandemic, which resulted in the COVID-19 lockdown and the next financial recession, will now put an finish to the times while you drove lengthy distances whereas incurring minimal gasoline prices.
According to a TOI report, the sharp decline in gross sales throughout the coronavirus lockdown interval has pressured the IGL to contemplate the prospect of mountain climbing the worth of CNG.
Reduced sale throughout the coronavirus lockdown interval had prompted big losses to IGL as the corporate was unable to cowl operational prices.
The IGL administration is hoping that the hike in CNG prices will assist in recovering a few of the losses. However, the quantum of the proposed hike has not been disclosed but.
With the coronavirus lockdown imposed on March 25, CNG gross sales had reportedly dropped by a whopping 90 per cent to three.5 lakh kilograms in April. All private and non-private transport, besides important service automobiles, went off the roads throughout the coronavirus lockdown.
With the federal government deciding to calm down coronavirus lockdown restrictions in a phased method, CNG gross sales have rebounded to round 30 per cent of the extent prevalent earlier than the lockdown was imposed. However, this isn’t sufficient to get well the operational prices.
IGL was pressured to close down 250 of its 526 stations in the Delhi-NCR area because of extraordinarily poor gross sales throughout the coronavirus lockdown peirod. However, IGL nonetheless needed to to incur lots of expenditure on paying salaries, fastened expenses for energy connections, tools upkeep and hire.