GAIL Gas reduces its CNG, PNG prices

GAIL Gas Limited has announced a substantial reduction in prices with effect from April 9, 2023.

The Company announced a reduction in its Domestic PNG prices by Rs 7 per SCM in Bengaluru and Dakshin Kannada and Rs 6 per SCM in all its other Geographical areas.

The new effective Domestic PNG Prices is Rs 52.50 per SCM in Dewas, Meerut, Sonipat, Taj Trapezium Zone, Raisen, Mirzapur, Dhanbad, Adityapur and Rourkela and Rs 51.50 per SCM for Bengaluru & Dakshin Kannada.

Similarly, CNG Prices are also reduced by Rs 7 per kg in Karnataka GAs and Sonipat and Rs 6 per kg in rest of the GAs and by New CNG Price is Rs 85 per kg for Meerut & Sonipat; Rs 92 per Kg for Dewas, Taj Trapezium Zone & Dehradun; Rs.82.50 per kg for Bengaluru & Dakshin Kannada; Rs 87 per kg for Mirzapur, Rs 91 per kg for Raisen, Dhanbad, Adityapur, Puri and Rourkela.

The new guidelines aim to establish a stable pricing regime for domestic gas consumers while providing sufficient protection to producers from adverse market fluctuations, along with incentives to user industries and CGD sector, the company said in a filing.

It will accelerate the expansion of CNG & PNG as a preferred fuel and will also contribute to reducing the carbon footprint.

Notably, GAIL Gas operates in 16 geographical areas across the country and is working towards gas based economy in India.

On Monday, GAIL (India) was trading at Rs106.25 per share higher by 0.76% on the BSE.