Gas Price

Trump touted big tax refunds, but rising gas prices may level gains

The US economy was supposed to start the year with a bang, fuelled by an unusually large jump in tax refunds from President Donald Trump's tax cut legislation. Yet spiking gas prices are on track to eat up those refunds, leaving most Americans with little extra to spend. "Next spring is projected to be the largest tax refund season of all time," Trump said in a prime-time speech in December that was intended to address voters' concerns about the economy and stubbornly high prices. But that was before the Iran war, which began Feb. 28. Oil and gas prices have soared since then, with the nationwide average price of gas reaching USD3.94 Sunday, up more than a dollar from just a month earlier. Gas prices are likely to remain elevated for some time, even if the war ends soon, because shipping and production have been disrupted and will take time to recover. Economists now expect slower growth this spring and for the year as a whole, as dollars that are spent on gas are less likely to be

Govt directs faster processing of city gas projects to ease supply stress

The government has stepped up efforts to streamline gas distribution and ease supply pressures, directing faster processing of city gas projects while increasing allocations of commercial LPG to key sectors amid a challenging geopolitical environment. The Petroleum and Explosives Safety Organisation (PESO) has instructed its offices to dispose of City Gas Distribution (CGD) applications within 10 days, aiming to accelerate the rollout of piped natural gas (PNG), an official statement said. Commercial LPG consumers in major cities and urban areas have also been advised to shift to PNG as part of a broader strategy to reduce dependence on liquefied petroleum gas. Domestic LPG supply remains stable, with no reported dry-outs at distributorships and normal delivery patterns across the country, it said, adding that most deliveries are being carried out through Delivery Authentication Code (DAC), while panic bookings have subsided. On the commercial LPG side, the government has ...

West Asia war-triggered LPG shortage and a case of reverse migration

From gig and contractual workers to street vendors and students, struggle is now part of everyday life

Adani Total Gas cuts natural gas price for certain industrial users

Adani Total Gas Ltd has cut the price of excess natural gas supplied to certain industrial customers to Rs 82.95 per standard cubic metre (SCM) from Rs 119.90 per SCM, effective 0600 hours on March 16, as upstream gas prices softened amid ongoing supply disruptions. The city gas joint venture of Adani Group and France's Total Energies said the revision aims to pass on the benefit of lower upstream prices to customers while maintaining system stability and equitable distribution of gas during the current supply constraints. Following the disruption in India's LNG supplies due to the halt in the movement of ships through the Strait of Hormuz as a fallout of the war in West Asia, ATGL had asked commercial and industrial customers to curtail consumption to 40 per cent of their contracted volumes. Spot market rates were applied to consumption beyond this threshold. Rates for this segment have not been cut. "We are pleased to inform you that the Excess Gas Price as informed vide our ...

Govt prohibits PNG users to hold LPG cylinders amid supply shortage

India is facing tightening of LPG supplies as nearly 90 per cent of the country's LPG imports originate from the West Asia

Commercial LPG sales start in 29 states, UTs; raids target black-marketing

Commercial LPG cylinder distribution has begun in 29 states and Union Territories, while authorities have stepped up raids and surprise inspections across the country to curb hoarding and black-marketing amid heightened pressure on cooking gas supplies, a senior oil ministry official said on Saturday. Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said panic booking continues to rise despite the fact that there are enough stocks available to meet domestic household requirements of cooking gas LPG. India, she said, has adequate crude oil inventories, and domestic refineries are operating at full capacity, ensuring sufficient availability of petrol and diesel across the country. "There are no dry-out reports from any retail outlets. Our refineries are operating at full capacity, and sufficient petrol and diesel are available. Based on our requirements, we produce adequate petrol and diesel domestically and do not need to import," she said. Sharma said ..

Reluctance of market participants hits gas trading volumes at IGX

Market participants turn cautious amid high LNG prices and supply regulation as West Asia conflict disrupts gas shipments and fuels uncertainty

Govt orders refiners to boost LPG output as Hormuz disruption worsens

Government directs refiners to maximise LPG production and supply extra volumes only to state-run OMCs for domestic use, as Hormuz closure tightens India's already import-heavy LPG supply

Adani Total Gas slashes CNG, piped gas prices after PNGRB tariff reset

Adani Total Gas Ltd (ATGL), the city gas joint venture of Adani Group and French giant TotalEnergies, has cut prices of CNG and natural gas piped to household kitchens for cooking across multiple markets, delivering direct relief to them and motorists. CNG and domestic piped natural gas prices have been cut by up to Rs 4, the company said. The reduction follows the landmark tariff reform by the Petroleum and Natural Gas Regulatory Board (PNGRB), which has streamlined gas transportation charges and lowered input costs for city gas distributors. ATGL said the price reduction varies by geography, depending on transportation zones. In Gujarat and adjoining Madhya Pradesh-Maharashtra areas, CNG is now cheaper by Rs 0.50 to Rs 1.90 per kg while domestic PNG is down by up to Rs 1.10 per standard cubic metre. In Rajasthan, Punjab, Haryana-NCR, northern Madhya Pradesh and bordering Uttar Pradesh, CNG price has been reduced by Rs 1.40 to Rs 2.55 per kg while domestic PNG is cheaper by Rs 1.1

Indraprastha Gas jumps 6% as Nomura upgrades stock on easing gas prices

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.

OMCs cut commercial LPG cylinder price by ₹33.50; new rate effective today

Oil firms cut the price of 19-kg commercial LPG cylinders by ₹33.50 effective August 1, in a major relief to eateries and small businesses. Domestic 14.2-kg cylinder price, however, remains unchanged

Analysts see crude at $150 on panic buying if Israel-Iran tensions escalate

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

Pakistani exports become uncompetitive after govt doubles gas prices

Pakistani exports have become uncompetitive after the government doubled gas prices for in-house power generation by factories, endangering the target of a three-year goal of increasing exports to USD 60 billion, according to a business body. The Pakistan Business Council (PBC) informed Prime Minister Shehbaz Sharif on Tuesday about the development through a letter, the Export Tribune reported. In a paradoxical situation, the miseries of industries are apparently an achievement for the government that has met an International Monetary Fund (IMF) loan condition to either make gas unaffordable for in-house power generation or completely cut it off, the paper reported. The government has chosen the first option, which became the reason for the PBC a representative body of manufacturers to write a letter to the prime minister, reporter the paper. "Your USD 60 billion export target by 2027 is unlikely to be achieved. The competitiveness of manufacturing for the domestic market, which

Reliance gas price hiked to $10.16, CNG, piped cooking gas rates unchanged

The government on Monday raised the price of natural gas produced from difficult areas like deep sea KG-D6 block of Reliance Industries, marginally to USD 10.16 per million British thermal unit in line with international trends, an official notification said. However, the price of gas that is used for making CNG for fuelling automobiles or piping to household kitchens for cooking purposes will remain unchanged due to a price cap that is set at 30 per cent less than market rates such as that paid to Reliance. For the six-month period starting October 1, the price of gas from deep sea and high-pressure, high-temperature (HPTP) areas has been raised to USD 10.16 per mmBtu from USD 9.87 per mmBtu during April-September, oil ministry's Petroleum Planning and Analysis Cell (PPAC) said in a notification. The increase follows three straight bi-annual reductions in rates for difficult fields. Price was for six months beginning October 1, 2023, slashed 18 per cent to USD 9.96 per mmBtu from U

CNG, piped cooking gas price hiked in Mumbai on rise in input costs

After Delhi, CNG price in Mumbai has been hiked by Rs 1.50 per kg and the rate of cooking gas piped to houses by Re 1 due to rise in input costs. Mahanagar Gas Ltd, which retails CNG to automobiles and piped natural gas to households for cooking purposes in Mumbai and surrounding cities, said the increased prices will come into effect from the intervening night of July 8 and 9. "To meet the increasing volume of CNG and domestic piped natural gas (PNG) segments and due to further shortfall in domestic gas allocation, MGL is sourcing additional market priced natural gas (imported LNG) which has resulted in higher gas cost," the firm said in a statement. To "partially offset the increase in gas cost", MGL has increased the delivered price of CNG by Rs 1.50 per kg and domestic PNG by Re 1 per standard cubic meter in and around Mumbai. Accordingly, the revised delivered prices inclusive of all taxes of CNG will be Rs 75 per kg and domestic PNG price will be Rs 48 per scm in and around .

Commercial LPG cylinder price reduced by Rs 19; Here are the revised rates

A 19 kg cylinder will now costs Rs 1,745.50 in Delhi as against Rs 1,764.50 as of last month

Commercial LPG cylinder to become costlier by Rs 25 in India from today

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

Gas firms seek price deregulation as city distribution targets fall behind

Regulator warns them of losing bank guarantees as investors show little interest in gas economy

Amid slump in economy, Pak's petroleum division notifies hike in gas prices

Regarding the significant increase in petrol prices for domestic, export and non-export units, CNG, cement and other industries, the Petroleum Division released a notification

India's LNG buyers set for deal-making rush in win for Modi's gas push

That should help reduce their exposure to the volatile spot market - where prices surged to a record last year and made the fuel too costly for many buyers