Indian city gas companies may raise CNG prices due to reduced government gas supplies.
City gas companies in India, like Indraprastha Gas Ltd and Adani Total Gas Ltd, are contemplating raising CNG prices following two consecutive cuts in supplies of cheaper input gas from old fields by the government. The government has reduced supplies by up to 20%, leading retailers to express concerns about profitability. The government requires a cost breakdown to justify any price hikes, arguing that retailers can absorb higher costs due to their high margins. This situation may lead to an increase in CNG prices by up to Rs 4-6 per kg.
November 17, 2024
20 Articles