IGL hikes CNG price by Rs 3.89 per kg in Delhi-NCR

Indraprastha Gas Limited has raised CNG prices in Delhi-NCR by Rs 3.89 per kg, effective from 6 am on August 29. The new rate in Delhi is Rs 86.98 per kg. The Times of India reports this is the fifth increase this year and the first since May, when prices rose by Rs 6 per kg in four phases.

The Hindu quotes IGL saying the hike is needed because global LNG prices have nearly doubled since July due to the re-escalation of the West Asia crisis affecting cargo through the Strait of Hormuz, and because Europe is stocking up for winter. IGL says it is only partially offsetting the rise in input costs to ensure supply continuity.

The New Indian Express reports the previous revision was Rs 2 per kg on May 26. Times Now adds that IGL stated CNG consumption is rising with the economy, and that Delhi's CNG price remained stable while international benchmarks rose sharply during the crisis.