GAIL Gas Cuts CNG, PNG Prices by Upto Rs 7: New Rates Listed Below

  • Investing.com
GAIL Gas Cuts CNG, PNG Prices by Upto Rs 7: New Rates Listed Below
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The state-owned natural gas major GAIL's (NS: GAIL ) city gas arm GAIL Gas has cut the prices of compressed natural gas (CNG) and piped natural gas (PNG) by up to Rs 7 per unit on Sunday, a day after Adani Total Gas Ltd (NS: ADAG ) announced to reduce the rates of natural gas.

Read Also: Adani Total Gas Cuts Prices of CNG & PNG: Here’s Why, New Rates

It has declared the price cuts following the Indian Government’s recent change in the pricing formula of natural gas to put a check on the runaway prices of cooking gas.

Starting April 9, 2023, GAIL Gas will reduce CNG prices by Rs 7/kg in the state of Karnataka, and by Rs 6/kg in other areas of its supply chain.

The revised rate of CNG now stands at:

  • Rs 82.5/kg for Bengaluru and Dakshin Kannada,
  • Rs 85/kg for Meerut and Sonipat,
  • Rs 92/kg for Dewas, Taj Trapezium Zone and Dehradun,
  • Rs 91/kg for Raisen, Dhanbad, Adityapur, Puri and Rourkela, and
  • Rs 87/kg for Mirzapur.

Similarly, GAIL Gas has pared PNG prices by Rs 7/scm (standard cubic meter) in Bengaluru and Dakshin Kannada, and by Rs 6 in other cities of its supply chain, starting Sunday.

The revised rate of PNG now stands at:

  • Rs 51.5/scm in Bengaluru and Dakshin Kannada, and
  • Rs 52.5/scm in Dewas, Meerut, Sonipat, Taj Trapezium Zone, Raisen, Mirzapur, Dhanbad, Adityapur and Rourkela.

"GAIL Gas Limited is also steering its pricing mechanism in line with the Government of India's guideline to pass on new domestic gas pricing benefits to its customers and has announced a substantial reduction in prices with effect from April 9, 2023," said the company in a statement.

The PSU explained that the new guidelines by the Centre aim at establishing a stable pricing regime for domestic gas consumers while providing sufficient protection to producers from adverse market fluctuations, along with incentives to user industries and the CGD sector.

“It will accelerate the expansion of CNG and PNG as a preferred fuel, and will also contribute to reducing the carbon footprint," it added.

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  • mohamed hanifa @mohamed hanifa
    international market above 70 percent price down on natural gas price. current market price 2 dollars only and Indian MCX price 169 rupees only.
    Like 1
  • Mohammed Abrar @Mohammed Abrar
    7rs cut and 35₹ increase next.. This is called masterstroke..
    Like 2
    • Mohammed Abrar @Mohammed Abrar
      Its all about election.. After that u may see rocket prices..
      Like 2
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