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CNG price hiked by Rs 3, up for third time since June

Sunday, 1 September 2013 - 11:37am IST | Place: Indore | Agency: dna

More shock in the offing as PNG price likely to be revised by next week.

Impacted by further slump in Indian currency of late, the CNG price has been revised by Rs 3 per kg (including VAT) in the city.

The revised price would come to force from September 1. Significantly, this is third price revision for this clean fuel in less than three months. 

The city-based natural gas supplier Aavantika Gas Ltd in a statement on Saturday said that owing to currency constraints, the company was compelled to revise CNG price by Rs 3 per kg in Indore.

From Sunday onwards, the CNG would be available for Rs 72/kg in Indore and Rs 73/kg in Ujjain and Gwalior.

Company's managing director Pradip Madan told dna that due to fading rupee, the company was compelled to increase CNG price.

He added that PNG prices would also be revised by next week. "We would work out the price hike for PNG once we receive the natural gas import bill on Sunday," he said adding that revised PNG prices would be announced in 3-4 days.

On July 10, the company had revised CNG prices from Rs 67 to 69 per kg in Indore while citing Indian currency's constant slippage against US currency.

Earlier on June 21, the company had hiked CNG price from Rs 64 to Rs 67/kg.

On the same day, the company had revised prices of PNG supplied to households from Rs 36 to 38/ standard cubic meter and from Rs 45 to 47/standard cubic meter for industrial customers.

The slippage in Indian rupee is constantly putting pressure on this natural gas price in the state where the same is sourced from abroad.

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