Adani Total Gas Cuts CNG, PNG Prices After India Revises Pricing Formula
CNG at Adani Total Gas stations will now cost up to Rs 8.13/kg less while PNG in household kitchens will be up to Rs 5.06 cheaper.
Adani Total Gas Ltd. has reduced prices of compressed natural gas and piped natural gas, after the government revised the pricing formula.
CNG at Adani Gas stations will now cost up to Rs 8.13/kg less while PNG in household kitchens will be up to Rs 5.06/kg cheaper. The new prices will be effective from April 8, 2023. The company has also reduced PNG prices for commercial users by Rs 3.
"In line with our policy to prioritise our end consumers, Adani Total Gas has decided to pass through the benefit of the New Gas Pricing guidelines announced by the Government of India to our PNG and CNG consumers," the company said in a statement on Saturday.
CNG now is up to 40% cheaper than petrol and PNG is 15% cheaper than LPG, the company stated in the statement.
The new prices come after India’s decision to link the Administered Price Mechanism for gas supply to vehicles and households to 10% of the Indian crude basket with a floor of $4/mmbtu and a cap of $6.5/mmbtu.
According to Adani Total Gas, this "landmark" decision can potentially step up the adoption of PNG and CNG, so much so that the share of natural gas in India's energy basket can increase to 15% by 2030 from 6.5% at present. In the near term, the price cut is a relief to existing CNG and PNG users in the country, the statement read.
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