IGL Slashes CNG Prices Amid West Asia Crisis, Fifth Hike This Year
Indraprastha Gas Limited (IGL) has increased compressed natural gas (CNG) prices in Delhi-NCR by Rs 3.89 per kg, effective Saturday. This is the fifth CNG price hike in Delhi-NCR this year and the first since May.
The price revision comes amid higher import costs of liquefied natural gas (LNG), with IGL stating that a significant portion of input gas for CNG is being met through imported LNG. International LNG prices have surged since the beginning of the West Asia conflict, affecting the cost impact on IGL's operations.
IGL cited a 'calibrated revision' was necessary to partially offset the increase in input gas costs, leading to a revised price of Rs 86.98 per kg for CNG in Delhi. Prices vary across states due to differences in value-added tax (VAT) rates, with CNG priced at Rs 95.59 per kg in Noida and Ghaziabad, Rs 95.47 per kg in Meerut, and Rs 92.01 per kg in Gurugram.
The price hike is expected to impact freight and passenger fares across Delhi-NCR, where auto-rickshaws, taxis, and goods carriers largely operate on CNG.