Indian government cuts domestic gas allocations to city gas distributors by 20%, potentially raising CNG prices.

The Indian government has reduced domestic gas allocations to city gas distributors by about 20%, potentially raising Compressed Natural Gas (CNG) prices. This change, effective October 16, may impact profitability for companies like Indraprastha Gas Ltd and Mahanagar Gas Ltd, as they turn to pricier gas sources. While household supplies remain unaffected, the shift may slow CNG vehicle registrations and disrupt supplies at some pumps if alternatives aren't secured quickly.

October 17, 2024
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