Adani Total Gas Reduces CNG, PNG Prices From April 8 | Check Revised Rates Here

 


Adani Total Gas Ltd (ATGL) has reduced the price of CNG by up to Rs 8.13/kg and the price of PNG by up to R 5.06/scm with effect from 12 am, April 08.

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Adani Total Gas Reduces CNG, PNG Gas Prices: Adani Total Gas Ltd (AGTL) on Friday announced a reduction in the prices of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) across 19 geographical areas that it caters to. As per the new rate, Adani Total Gas Ltd (ATGL) reduces the price of CNG by up to Rs 8.13/kg and the price of PNG by up to ₹ 5.06/scm. The reduction in gas prices has been effected from April 8, 2023.

The decision comes after the cabinet announced a new pricing mechanism for the bulk of domestically-produced natural gas by state-run explorers. The new system of pricing is believed to reduce CNG and PNG costs. The Cabinet decision was based on the recommendations of an expert panel headed by economist Kirit Parikh which proposed a floor of $4 per unit and a cap of $6.5 for natural gas produced from old administered price mechanism (APM) fields operated by state-run explorers – Oild and Natural Gas Corporation (ONGC) and Oil India Limited (OIL).

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Information and Broadcasting Minister Anurag Thakur after the cabinet meeting, said, there will be monthly notification to ensure stable pricing in the regime and provide adequate protection to producers from adverse market fluctuation.

“Now, gas price, instead of international hub gas price, has been linked to imported crude. And the price of domestic gas will be 10% of the international price of the Indian crude basket, to be notified monthly,” he said.

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The move will bring down the cost of PNG by 10 per cent and lower the cost of compressed natural gas (CNG) by 6 per cent to 9 per cent, oil secretary Pankaj Jain said today. The government will issue a notification tomorrow to announce this change and the decision will come into force on Saturday.

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