Indraprastha Gas Share Price Surges 6% Following CNG Price Hike

Indraprastha Gas Share Price Surges Amid Fresh CNG Price Hike

On Tuesday, 26 May, Indraprastha Gas (IGL) share price jumped nearly 6% following the company's announcement of a fresh hike in Compressed Natural Gas (CNG) prices across its operating markets.

The latest increase of ₹2 per kg in Delhi marks the fourth revision in fuel prices within the past two weeks, amid continued volatility in global energy markets. After the update, CNG prices in Delhi have increased to ₹83.09 per kg, up from ₹81.09 per kg. Prices were also adjusted in the National Capital Region, with residents in Noida, Ghaziabad, and Greater Noida now paying ₹91.70 per kg, while Gurugram's rates are set at ₹88.12 per kg. In other significant markets, CNG is priced at ₹92.44 per kg in Ajmer and ₹95 per kg in Chennai.

The most recent price increase comes shortly after IGL raised CNG rates by ₹1 per kg on 23 May, marking the third adjustment within just 10 days. After a long period of stability, fuel price adjustments resumed earlier this month, resulting in several hikes in petrol, diesel, and CNG prices.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

The repeated price increases reflect ongoing pressure from high global crude oil prices and concerns about supply disruptions linked to disturbances in the Strait of Hormuz amid the continuing conflict in West Asia. As a crucial pathway for international oil and gas transport, any risk to supplies passing through the Strait has raised import costs and heightened pricing pressures for energy-importing countries like India.