Delhi's CNG Prices Rise Amid Global Geopolitical Tensions

Compressed Natural Gas (CNG) prices in Delhi rose by nearly 8% after Indraprastha Gas Limited (IGL) announced a price revision, effective from August 29. According to BJP national spokesperson Syed Shahnawaz Hussain, the increase is attributed to global geopolitical tensions between the United States and Iran, which led to the closure of the Strait of Hormuz.

Hussain stated that 'the prevailing global situation, including the closure of the Strait of Hormuz and the tensions between the US and Iran, impacts markets worldwide, and India is affected as well.' The price revision was implemented to partially offset rising input gas costs and ensure uninterrupted supply. IGL emphasized that Delhi maintains among the lowest retail CNG prices globally.

The recent price increase follows a cumulative Rs 6 hike in May, which had placed additional financial pressure on commuters using CNG-powered vehicles. The global spot liquefied natural gas (LNG) prices have nearly doubled due to escalating conflicts in West Asia disrupting LNG cargo movements and rising European demand ahead of the winter season.