CNG prices have been increased from one rupee to three rupees from Indraprastha Gas Limited i.e. IGL. CNG of CNG increased by one rupee in Delhi, while in other places it has been increased by 3 rupees.

That is, the price of CNG has been increased for the first time since June 2024. IGL sells about 70 percent gas in Delhi, while the remaining 30 percent belong to other companies.

After this increased price of CNG, now the price of CNG in Delhi has increased to Rs 76.09 and CNG in Noid-Ghaziabad has increased to Rs 84.70 per kg. In November 2024, IGL decided to increase the prices of CNG in Delhi.

In his note on IGL in February, Brokeref firm Jeffers said that the price increase by 2 rupees will be sufficient to maintain his current profit.

This amendment has been made by the government after the increase of 4% in gas under the APM (Administerked Price Mechanism). Now it has to be seen that what is the reaction of the stock after this increased price from IGL and MGL. In the market closed on Friday, IGL had seen 30 percent and MGL had a decline of 33 percent.

APM gas prices for the period from April to September this year stable at $ 6.75 per MMBTU. This is the first increase in the gas price of CNG since April 2023. This is only in line with the recommendations made by the Kirit Parikh panel.

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