Commodities
IGL Hikes Delhi CNG Price Amid Global LNG Cost Surge
Indraprastha Gas Ltd (IGL) raised its compressed natural gas (CNG) prices in Delhi by ₹3.89 per kg over the weekend.
The retail CNG price in Delhi is now ₹83.09 per kg, with the price hike taking effect from August 29.
According to analysts, the latest price hike will ease margin pressure for IGL and improve its earnings before interest tax depreciation and amortization (EBITDA) per kg.
IGL's CNG prices in Delhi have gone up by 7.8% during the six-month Iran war, which began on February 27.
The company said it will continue to optimise gas sourcing costs to keep CNG prices competitive and ensure reliable supplies.