Gas Prices

Torrent Gas on Friday announced a reduction of up to Rs 3.50 per kg in the retail price of CNG and up to Rs 2 per standard cubic metre in domestic PNG in its areas of operation connected to the National Gas Grid across the country. "This will make CNG cheaper by up to 43 per cent vis-a-vis petrol," the company said in a statement. This reduction in prices of CNG and PNG comes on the back of the implementation of the Unified Tariff order by PNGRB, effective from January 1, 2026. "This reduction in CNG and PNG prices will bring great relief to households using it as cooking fuel and to CNG vehicle owners by reducing household expenses for the common man. This bold step, along with the nationwide PNGRB Campaign for promoting the usage of Natural Gas, is also expected to give an impetus to the offtake of new PNG connections amongst households and encourage the sale of new CNG vehicles, including passenger and commercial segments," it said. Torrent Gas has always been at the forefront o

On the bourses, IGL share price rallied up to 5.54 per cent to an intraday high of ₹193.35 per share, while MGL share price rose up to 4.22 per cent to an intraday high of ₹1,159.25.

The attacks, according to analysts at Rabobank International, expose wider risks to crude and natural gas supplies from the region despite the initial quick reversal of price gains for both markets

Downstream businesses like the oil marketing companies (OMCs) and gas players gain

Chairman also expected that the Union Budget would give relief on compression charges on CNG and some steps are taken to bring natural gas under the GST coverage

Oil prices climbed this week as tensions in the Middle East escalated. Iran launched missiles at Israel and the Israelis threatened retaliation, raising the possibility of a disruption to the flow of oil from the region. A jump in oil prices automatically spurs fear of a spike in gas prices, but experts see reasons that may not happen. Here's a look at the current situation and the outlook for oil and gas prices: Familiar tensions, different times Oil prices rose than USD 6 per barrel this week and prices at the pump moved higher as well. The average price for a gallon of gas rose 5 cents from last week. Any major escalation of tensions in the Middle East conjures up memories of the oil embargo that followed the start of the Yom Kippur war in 1973, which quadrupled oil prices. However, the global supply of oil has been altered radically since the 1970s, with the US becoming the world's largest oil producer. Months of war between Israel and Hamas and Hezbollah, two Iranian proxies,

Increasing global gas prices, and an extended winter in March led to the sudden fall

Stocks to Watch on March 7: Indraprastha Gas, on Wednesday, reduced the prices of compressed natural gas (CNG) in the national capital by Rs 2.5 per kilogram

Falling freight rates for LNG shipments have reduced gas prices in India

Last month, before Budget 2024, the price of commercial LPG cylinders was hiked by Rs 14 in Delhi to Rs 1,770

The Qatari announcement comes as U.S. gas prices trade near an all-time low if adjusted to inflation after a decade of meteoric rises in output which made the U.S. one of the top oil and gas exporters

Still, having scraped through the crisis, Europe has emerged into a new reality that has its own list of challenges

Exxon's oil and gas pumping business was hurt by a 60% drop in natural gas prices compared with a year ago

Prime Minister Narendra Modi on Tuesday said that the reduction in prices of cooking gas cylinders will make the lives of women easier

Tripura State Electricity Corporation Ltd has submitted a representation to the state regulatory commission, seeking a hike in power tariff to bridge its revenue gap, a senior official said on Saturday. There has been no tariff increase in Tripura since 2014, causing a huge loss to the state government-run power corporation, he said. There has been an average 196 per cent increase in natural gas price in the past one year and the introduction of uniform transmission cost has hit the corporation's fiscal position. While the uniform transmission cost appears good for big states like Assam, it harms small states such as Manipur, Tripura and Mizoram, TSECL Managing Director Debasish Sarkar told PTI. The corporation will have a revenue gap of Rs 1,100.60 crore if the tariff remains unchanged for the 2023-24 financial year, he said. Projected revenue stands at Rs 868.04 crore for 2023-24, while TSECL needs to spend Rs 1,968.64 crore for the current fiscal, leading to a gap of Rs 1,100.6

The government's decision to limit prices of domestic natural gas from legacy fields to between USD 4-6.5 per million British Thermal Unit (mmbtu) will support margins for city gas distributors, encourage the use of gas, and reduce cash flow volatility for upstream producers, Fitch Ratings said on Wednesday. "We expect a partial pass-through of the lower administered price mechanism (APM) gas prices, at which domestic upstream producers supply gas to city gas distributors, in the prices of compressed natural gas (CNG) and domestic piped natural gas (PNG) to add to the distributors' margins in the near term," it said in a statement. City gas retailers like Indraprastha Gas Ltd and Adani Total Gas Ltd last weekend announced Rs 6-8 cut in CNG and PNG prices, reflecting the cut in input gas prices. The APM price under the new regime was calculated at USD 7.92, but is capped at USD 6.5 for the rest of April, 24 per cent below levels in October 2022-March 2023. "We expect such price cuts

Although lower gas prices could offer some relief on margins

The government on Thursday amended the domestic pricing model of natural gas in line with the recommendations of the Kirit Parikh committee on gas pricing

CNG and piped cooking gas prices will be cut by 9-11 per cent after the government revised the formula for pricing of natural gas, but there is no clarity on deregulation of the fuel, analysts said. While the Union Cabinet accepted an expert committee report to price bulk of domestically produced natural gas at 10 per cent of month average import price of crude oil with a floor of USD 4 per million British thermal unit and a cap of USD 6.5, tinkering with the panel's suggestions will help the government avoid prices going up right in the middle of general elections next year. "City gas distributors could reduce prices of compressed natural gas (CNG), used by vehicles, and piped natural gas (PNG), used by homes, by 9-11 per cent, with the government accepting the key recommendations of the Kirit Parikh Committee," Crisil Ratings said. "Had the previous pricing regime continued, prices would have likely risen." But the government has not acted on the panel's recommendation to fully ..

Gas pricing needs a long-term perspective