IGL Raises CNG Price by Rs 3.89 per Kg in Delhi Amid Rising International LNG Costs

Indraprastha Gas Ltd (IGL) has increased the price of compressed natural gas (CNG) in Delhi by Rs 3.89 per kg, citing a sharp rise in international LNG prices following a renewed West Asia crisis and disruptions to gas cargo movements through the Strait of Hormuz.

The hike takes effect from 6 am on August 29 and brings the CNG price in Delhi to Rs 86.98 per kg, up from Rs 83.09 per kg earlier. This is the fourth increase in Delhi CNG prices this year, taking the cumulative rise to nearly Rs 10 per kg.

IGL said that global LNG prices have nearly doubled since July due to the re-escalation of the West Asia crisis affecting LNG cargo movements through the Strait of Hormuz, pushing international gas benchmarks to twice their pre-crisis levels. The company also noted that rising CNG consumption in line with India's economic growth and increasing consumer demand has increased the requirement for imported spot LNG.

IGL stated that despite soaring imported spot gas prices, CGD entities like IGL have been maintaining competitive CNG prices vis-a-vis other alternative fuels to enable sustained growth of CNG consumption in India. The company remains committed to keeping CNG a competitive, cleaner, and dependable mobility fuel.