Industry Odisha Bureau, Aug 29: Indraprastha Gas Limited (IGL) has increased CNG prices by Rs 3.89 per kg across Delhi-NCR. This comes after a sharp rise in international LNG prices amid the ongoing West Asia crisis. The revised rates will come into effect from 6 AM on Saturday.
In Delhi, CNG price will be Rs 86.98 per kg, up from Rs 83.09. The new price in Gurgaon is Rs 92.01 per kg, while consumers in Noida will pay Rs 111.87 per kg. In Ghaziabad, the revised rate is Rs 95.59 per kg.
IGL said international LNG prices have nearly doubled since July as the West Asia crisis disrupted cargo movements through the Strait of Hormuz. The company said a significant share of gas used for CNG is sourced from imported spot LNG, making the rise in global prices difficult to absorb.
According to IGL, European TTF gas prices increased from around $11.36 per MMBTU in late February to $23.35 per MMBTU on August 25, marking a rise of about 105%. Asian JKM LNG prices climbed around 113% during the same period.
IGL said Delhi consumers had so far been largely protected from the sharp rise in imported gas costs. However, rising CNG demand and higher input costs have now made a price revision necessary.
