GSPC Gas says hike necessitated by rising prices of imported gas.
GSPC Gas, a subsidiary of state-owned Gujarat State Petroleum Corporation, has effected a sharp increase in gas prices, particularly to commercial consumers.
The company said that the hike has been necessitated by rising prices of imported gas. GSPC Gas has revised gas price for commercial consumers from Rs20.45 per standard cubic metre (scm) to Rs29.10 per scm. Similarly, the price for non-commercial consumers has been revised from Rs16.35 to Rs23.92 per scm.
The hike came into effect from Thursday.GSPC Gas has also revised CNG price from Rs34.45 per kg to Rs37 per kg, while the price of domestic gas has been hiked from Rs14.05 per scm to Rs16.91. Industry sources said that the company had recently hiked gas prices to industrial consumers.
The sharp rise in gas prices comes even as the threat of hike in petrol and diesel looms large due to surging crude prices and increasing under-recoveries of oil marketing companies. "GSPC Gas is not getting the cheaper gas from D6 field in KG basin, and is entirely dependent on imported gas.
The prices of imported gas are increasing every month, which is why the company is constrained to revise the prices upwards," GSPC Gas said in a release.
The company also said that gas prices could go downwards if it was allotted the D6 gas. Sabarmati Gas, another subsidiary of GSPC, has also revised gas prices. Adani Gas, which already sells CNG at around Rs37 per kg in Ahmedabad, is also expected to follow suit and hike gas prices.
The sharp hikes in gas prices come even as the state energy department has written to various city gas distribution companies asking them not to increase gas prices without its prior approval.
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