West Asia crisis spikes global LNG costs: IGL announces calibrated ₹3.89/kg CNG price revision in Delhi
New Delhi, August 29
Indraprastha Gas Limited has announced a calibrated price revision of ₹3.89 per kg for Compressed Natural Gas in Delhi, effective from 6:00 AM on August 29, according to the IGL press release.
The minor adjustment comes as global Spot LNG prices nearly double due to escalating conflicts in West Asia disrupting LNG cargo movements through the Strait of Hormuz, alongside rising European demand ahead of the winter season.
Despite severe international market volatility, IGL has largely insulated Indian consumers, ensuring Delhi maintains among the lowest retail CNG prices worldwide compared to other gas-importing nations, the release added.
A revision of ₹3.89 per kg takes effect at 6:00 AM on August 29, 2026, to partially offset rising input gas costs and ensure uninterrupted supply.
Fast-paced economic growth and rising consumer demand have increased reliance on imported Spot LNG to meet the CNG supply gap.
While international gas benchmarks doubled over recent months, retail prices in Delhi experienced only a minor single-digit percentage increase.
Delhi CNG (IGL Retail) rose gradually from ₹77.09/kg to ₹83.09/kg, representing a modest ~7.8% increase.
Europe (TTF Gas Benchmark) escalated from ~$11.36/MMBTU to ~$23.35/MMBTU, marking a massive surge of ~105%.
Asia (JKM LNG Benchmark) jumped from ~$10.99/MMBTU to $23.41/MMBTU, reflecting a sharp rise of ~113%.
Through strategic sourcing and calibrated adjustments, the domestic market succeeded in insulating daily commuters, public transport operators, and price-sensitive vehicle owners from the full impact of the global energy crisis.
IGL reaffirmed its commitment to optimising sourcing costs to keep CNG an economical, clean, and dependable fuel choice for auto-rickshaws, taxis, private vehicles, and public transport fleets.
— ANI
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