The latest revision in CNG follows a 4% price hike in April and a further 3% increase in June, data shows.
Amid skyrocketing petrol and diesel prices, which are at record highs, there is more bad news. CNG and PNG have also become costlier in Ahmedabad, and are likely to rise further in the coming days.
Adani Gas, which distributes Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Ahmedabad and also Vadodara, revised prices of the two fuels with effect from Saturday.
The Gautam Adani-led company said on its website that CNG price has been revised to Rs 52 per kg from September 8. It was selling CNG at Rs 51 per kg until yesterday, which means the price hike is about 2%.
The latest revision in CNG follows a 4% price hike in April and a further 3% increase in June, data shows.
Similarly, Adani Gas has revised the price of domestic PNG from Rs 630.29 per Million Metric British Thermal Unit (MMBTU) to Rs 643.40 per MMBTU, a hike of just over 2%.
Since April, when it was priced at Rs 560 per MMBTU, PNG prices have gone up by almost 15%. "The price revision has been necessitated due to the sharp depreciation of the rupee vis-a-vis US dollar," an industry official said.
Industry sources said that other city gas distribution companies such as Gujarat Gas and Sabarmati Gas are also likely to follow suit and hike gas prices in the next few days.
"The rupee has depreciated significantly against the dollar in the past couple of months, which leaves us with little option but to pass on the increase in cost to consumers," said an official of a CGD, requesting anonymity.
What is more is that CNG and PNG prices are likely to be revised upwards again next month when the price of domestically produced natural gas gets revised from October 1 as per the government's pricing formula. Industry playeRs said the hike in gas prices was likely to be about 10-12%, which would translate into an increase of 4-5% in CNG and PNG prices from October.
The rise in CNG and PNG prices comes even as petrol and diesel rates have been rising at a blistering pace. On Saturday, the petrol price in Ahmedabad touched an all-time high of Rs 79.53 per litre, while diesel zoomed to Rs 77.81. Petrol prices are up by nearly six per cent since August, and diesel by seven per cent. There is tremendous pressure on the central government to lower levies on the two fuels to provide relief to citizens, but it has so far resisted any such move.
PRESSURE ON GOVT
There is tremendous pressure on the central government to lower levies on the two fuels to provide relief to citizens, but it has so far resisted any such move.
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