IGL Shares Rise Nearly 4% After Fresh CNG Price Hike in Delhi-NCR

Shares of Indraprastha Gas Ltd (IGL) climbed nearly 4% in early trade on Tuesday after the company increased compressed natural gas (CNG) prices across Delhi-NCR and other cities.

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The stock rose 3.92% to ₹166.77 on the NSE after IGL announced a ₹2 per kg increase in CNG prices with effect from 6 AM on May 26. Following the latest revision, CNG prices in Delhi have increased to ₹83.09 per kg.

The latest hike marks the fourth increase in CNG prices since May 15 as global energy markets remain volatile due to geopolitical tensions in West Asia.

Revised CNG Prices Across Cities

Apart from Delhi, IGL also revised CNG prices in several neighbouring regions. Consumers in Noida, Ghaziabad and Greater Noida will now pay ₹91.70 per kg for CNG, while prices in Gurugram have risen to ₹88.12 per kg.
In Ajmer, CNG prices have been revised to ₹92.44 per kg. The company informed customers that the revised prices came into effect from Tuesday morning across all applicable regions.

Energy Supply Concerns Remain Elevated

The current price increase in CNG is happening against the backdrop of continuing disturbances in the global energy logistics chain. Energy market dynamics are still facing challenges from the uncertainties associated with the sea routes in West Asia.

The biggest problem that the energy markets encounter is represented by the Strait of Hormuz, being a crucial transport route for oil and liquid natural gas. About 20% of LNG trade passes through the strait, meaning that it is a critical point of transportation. The repeated disruptions cause concerns regarding the availability of supplies as well as the costs of logistics.

Due to rising global energy prices, the local fuel suppliers have raised the price of petrol, diesel, and CNG multiple times in just one month. The gains in IGL shares came alongside broader strength in energy-linked stocks as investors monitored developments in crude oil and gas markets.