Price of CNG has more than doubled in the past year

Price of CNG in April.
Price of CNG in April. Source: ERR

Tarmo Kärsna, member of the board of fuel seller Alexela, said that record-breaking CNG prices will persist also in the future as the price is tied to that of natural gas. The price of a kilogram of CNG or compressed natural gas has grown by around €2 in the last year.

"The price of CNG usually changes once a month as it is calculated based on the previous month's world market average," Kärsna said.

The price of a kilogram of CNG, as low as €0.899-0.934 as recently as last summer, has now climbed to €2.788.

The price of natural gas exploded last year, with that of compressed gas climbing by 70 percent. Another spike was delivered when Russia launched its war in Ukraine.

"There is little certainty looking to the future, in a situation where the EU has said it is considering an energy embargo. The price might stay high for some time," Kärsna suggested.

He added that there might be a slight CNG discount in May should the price of natural gas stay where it is now.

Kärsna said that CNG vehicles have lower fuel consumption per kilometer than gasoline-powered vehicles.

Margus Kaasik, member of the board of Eesti Gaas, also said that the price of CNG has grown by leaps and bounds.

"CNG is just compressed gas. Because the April [world market] price will break yet another record at €130 per megawatt-hour, the price of CNG will inevitably follow," he said.


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Editor: Marcus Turovski

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