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Adani Gas hikes CNG price by 4%, PNG by 8%

The price hike comes after Gujarat Gas hiked the CNG, PNG prices by 4.5-5 per cent

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Adani Gas, which distributes natural gas in Ahmedabad and Vadodara, on Wednesday announced a hike of 4 per cent in the price of Compressed Natural Gas (CNG) and a steep increase of over 8 per cent in domestic Piped Natural Gas (PNG). The revision comes a day after Gujarat Gas hiked prices CNG, PNG prices by 4.5-5 per cent.

Adani Gas, which supplies gas to about 2.85 lakh households in Ahmedabad and Vadodara, revised domestic PNG price from Rs 560.65 per Metric Million British Thermal Unit (MMBTU) to Rs 606.72, an increase of 8.2 per cent. As far as CNG is concerned, the Adani Group revised the price by 4 per cent from Rs 47.80 per kg to Rs 49.70. It said it caters to about 1.50 lakh CNG users in the two cities.

Adani Gas said the hike comes in the wake of revision of domestically produced natural gas by the Ministry of Petroleum and Natural Gas. Incidentally, natural gas prices were revised on April 1, and it has taken more than a fortnight for the two Gujarat-based gas distribution companies to hike retail prices.

Gujarat Gas, the largest CGD in the country, which has presence in more than 15 districts in the state, had revised CNG price from Rs 47.50 per kilo to Rs 49.65 and that of domestic PNG from Rs 20.85 per kilo to Rs 21.95 from Wednesday. In terms of MMBTU, the price rose from Rs 604.165 to Rs 636.17.

While revision of CNG prices by both companies is in line with the expected hike of 4 per cent, the hike in PNG price is much more. Gujarat Gas hiked PNG price by over 5 per cent, while Adani Gas’s hike is 8.2 per cent. Industry players said that the higher hike was because the rupee has weakened against dollar in recent weeks, making imports like natural gas expensive.

On April 1, the Central Government had revised price of domestic gas from $2.89 per MMBTU to $3.06 per MMBTU for the six-month period from April-September 2018. The increase was in line with the gas pricing formula based on average prices in key global gas trading hubs.

REVISING PRICES

  • The price hike comes after Gujarat Gas hiked the CNG, PNG prices by 4.5-5 per cent.
     
  • Adani Gas supplies gas to about 2.85 lakh households in Ahmedabad and Vadodra.
     
  • The Adani Group revised the price by 4%.
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