Industrial gas company Praxair will enact price increases on a number of its offerings next month, a move it said is necessary to support ongoing investment in its business and offset increasing production costs.

The effort, effective from 1st of June, will see prices for nitrogen and oxygen rise by up to 12%, while argon and hydrogen prices will increase by up to 18%.

At the same time, facility fees or monthly bulk product charges will jump by up to 15%.

Praxair in January increased prices for a number of its offerings, including a hike of up to 15% on nitrogen, oxygen, argon and hydrogen. The company has been grappling with inflated costs of late that have figured in its drive to lift prices.

Shares closed Tuesday at $110.01 and were inactive premarket. The stock is up 2.9% since the start of the year.