Due to the increase in the prices of petroleum products, the demand of compressed natural gas (CNG) has experienced a significant hike in the past few days. Many industry analysts believe that the increase in the popularity of CNG will actually benefit consumers, environment, and the people involved in gas business.
According to the central chairman of the All Pakistan CNG Association (APCNGA), Ghiyas Abdullah Paracha, the price of CNG will likely to drop soon, as the prices of petroleum products continue to rise.
CNG vendors have been experiencing the pressure of falling oil prices for quite some time, as masses have shifted towards petroleum products. However, it seems that the situation is turning in favor of the CNG dealers.
Previously, car owners with CNG kits installed in their vehicles saved around 50% of the cost compared to petrol, when the latter was being sold at over PKR 100/ liter. The highest price of petrol was recorded in October 2013, when it was sold for approximately PKR 113.24/ liter. However, since November 2014 the prices of petroleum products started to drop and it is currently being sold at PKR 73/ liter.
Paracha said “we will soon introduce a new technology in the country which will be more efficient, significantly increasing mileage and reducing overall cost for motorists.” He said that the new lightweight gas being introduced will benefit the CNG consumers. “We are sure that this solution will enable us to improve efficiency of the whole system,” he said.
In any case, it is safe to say that the CNG sector is again gaining momentum and many people have already started using CNG instead of petrol, which is evident from long queues of cars in front of CNG stations.