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Govt allocation helps Adani Gas cut prices of PNG and CNG. Details here
The Union ministry of petroleum and natural gas recently increased the allocation of domestic gas which certainly helped Adani Gas to cut the prices of PNG and CNG.
Adani Total Gas has cut the prices for domestic PNG or piped natural gas by up to ₹3.20 per standard cubic metre, while CNG or compressed natural gas price has been brought down by ₹4.7 per kg. The reduction in gas prices has been effected from August 17, 2022, a LiveMint report said.
The Union ministry of petroleum and natural gas recently increased the allocation of domestic gas and the downward revision of the Unified Base Price (UBP) helped the City Gas Distribution (CGD) industry in moderating the prices of CNG and home PNG to end customers.
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In a media statement, the company's spokesperson said, "Adani Total Gas welcomes the continued support of the Union Ministry of Petroleum & Natural Gas to city gas distribution companies by way of the recent decision to increase the allocation of domestic gas and revise downward the Unified Base Price (UBP) applicable for CNG and home PNG."
"The reduction in gas prices has been effected from August 17, 2022, across 19 geographical areas covered by ATGL, which will result in considerable savings for the lakhs of consumers we serve," the spokesperson said.
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Earlier this month, the oil ministry amended an earlier order to increase the allocation of domestically produced gas to city gas operators.
On BSE, Adani Total Gas settled at ₹3,462.40 apiece down by ₹6.30 or 0.18%. The company's market valuation is around ₹3,80,798.24 crore.
