Adani Total Gas reduces CNG price by up to ₹8.13/kg, PNG by up to ₹5.06/scm
The new CNG and PNG prices will become effective from 8th April 2023
Adani Total Gas Ltd (ATGL), a flagship Adani group company, has reduced CNG price by up to ₹8.13/kg and PNG price by up to ₹5.06/scm.
The new CNG and PNG prices will become effective from 8th April 2023. After Mahanagar Gas Limited (MGL), ATGL is second Indian energy company to reduce CNG and PNG prices after new Government of India (GoI) announced a new Administered Price Mechanism (APM) price formula.
In a written press statement, ATGL hailed the GoI's decision to link the APM for gas supply to CNG vehicles and residential households to 10 per cent of the Indian crude basket with a floor of $4 and a cap of $6.5 per MMBTU.
On how this new gas pricing move will impact home PNG and CNG vehicles, ATGL said that the GoI's decision of reforming gas prices shall act as a growth catalyst to enhance the footprint of Home PNG and CNG vehicles in a rapid manner to ensure an increase in the share of natural gas from 6.5 per cent to 15 per cent in India's energy basket by 2030 in line with the vision of Government of India.
Earlier, Mahanagar Gas Limited (MGL) on 7 April decreased the price of compressed natural gas (CNG) by ₹8 per kilogram to ₹79 per kilogram.
Apart from this, it also reduced the piped natural gas (PNG) price by ₹5/scm to ₹49/scm.
