Commodities
IGL Slams on CNG Price Brake Amid LNG Cost Spike
Indraprastha Gas Limited (IGL) has increased CNG prices by Rs 3.89 per kg across Delhi-NCR, citing a sharp rise in LNG costs.
The latest revision, effective Saturday, brings the new price of CNG to Rs 86.98 per kg in Delhi and Rs 95.59 per kg in Noida and Ghaziabad.
IGL had last raised CNG prices in May by a cumulative Rs 6 per kg in four phases over 10 days due to global energy price increases amid the West Asia conflict.
The company attributes the fresh increase to renewed escalation of tensions in West Asia, which has disrupted LNG cargo movements through the Strait of Hormuz and pushed global LNG prices nearly doubling since July compared to pre-conflict levels.