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Oil unlikely to fall below $80/bbl amid supply disruptions: Maulik PatelMaulik Patel, Head of Research, Equirus Investment Securities, said growth in CNG volumes is slowing, especially in key markets like Delhi. Policy reforms such as bringing gas under GST and reducing taxes could support demand. Investors are advised to consider CGD stocks on price declines.By Prashant Nair   |  Nigel D'Souza   |  Reema Tendulkar  April 13, 2026, 11:36:23 AM IST (Published)2 Min ReadCrude oil prices are likely to stay elevated, affecting fuel demand and weighing on city gas distribution (CGD) companies, according to Maulik Patel, Head of Research, Equirus Investment Securities.

Patel said oil markets have shifted to a higher range due to supply disruptions. “It will not come below $80 per barrel,” he said. Currently, Brent crude oil is trading around $101.90 per barrel.

Higher fuel costs and policy changes are impacting CGD companies such as Indraprastha Gas Limited (IGL) and Mahanagar Gas Limited (MGL). Patel noted that growth in CNG demand has slowed. “IGL has been reporting around 4–5% growth… and it will continue to be there,” he said, indicating limited upside in volumes.

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He also flagged structural challenges, including slower growth in core markets like Delhi and policy constraints affecting vehicle adoption.

However, Patel said reforms could support the sector. He highlighted the need to bring gas under goods and services tax (GST) and rationalise taxes on compressed natural gas (CNG) to improve demand. Without such steps, growth is likely to remain moderate.

For the full interview, watch the accompanying video

On investment strategy, he advised buying CGD stocks on corrections. “Go for any kind of dip for IGL and MGL,” he said.

Catch all the latest updates from the stock market hereContinue ReadingNote To ReadersDisclaimer: The views and tips expressed by investment experts on CNBCTV18.com are their own, not of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.(Edited by : Unnikrishnan)TagsBrent crude oilcity gas distributionCNGGSTIGLMarket analystsMGLoil and gas