Page 3 - Gas Price

ONGC, Oil India gain up to 6% as govt increases gas prices; MGL falls 4%

The government has hiked prices of domestically produced natural gas for the October 2022-March 2023 period

Gas price review panel, led by Kirit Parikh, seeks more time: Report

The government-appointed panel for reviewing the pricing of natural gas has sought more time to submit its report as it does a tightrope walk of striking a balance between the expectations of producers and consumers, sources said. The panel headed by former planning commission member Kirit S Parikh was tasked to suggest a "fair price to the end-consumer" by the end of September. Given the enormity of the task, the committee wanted 30 more days to finish the report but the government wants it to wrap up the work by mid-October, two sources with knowledge of the matter said. A decision on the exact duration of the extension will be taken next week after oil secretary Pankaj Jain returns from his overseas trip, they said. Natural gas is a fossil energy source that formed deep beneath the earth's surface. It is used to generate electricity, produce fertiliser, convert into CNG to run automobiles and piped to household kitchens for cooking and heating. It is also used in making glass, .

Higher gas prices raise difficult questions for Reliance, Adani Group

The 153% jump in prices of natural gas this year has raised the stakes for the government of India to get its policy right in the sector

Energy crisis shows gasoline demand declining, renewables on the rise

With prices of natural gas and coal heading to record highs and those for crude oil not far below their 2008 peak, the world seems more hooked on carbon than ever

Centre to relax rules, fast-track new measures for oil & gas exploration

More processes to be brought under the self-certification framework while clearance portal is being upgraded

After Russian flows dry up, India pays up to double price for gas

GAIL India Ltd. bought several LNG cargoes for delivery between October and November at more than double the price it paid around this time last year.

Top Headlines: Direct tax collections jump, broken rice exports, and more

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'Substantial victory' for Kyiv conceded on Russian state TV: Report

The Ukrainian breakthrough near Kharkiv was the fastest advance reported by either side for months, and one of the biggest shifts in the war's momentum

OPEC+ cuts oil output, gas prices soar: What's next for investors?

OPEC+ meeting: While analysts said the current output cut is insignificant to move the needle on oil prices, they cautioned that more output cuts may push oil prices higher, impacting India

Gas prices dip just below $4 a gallon for the first time in 5 months in US

Falling prices for gas, airline tickets and clothes are giving consumers a bit of relief, although inflation is still close to a four-decade high.

Oil steady as International Energy Agency hikes 2022 demand growth forecast

Brent crude futures slipped 7 cents, or 0.1%, to $97.33 a barrel by 0829 GMT, while U.S. West Texas Intermediate crude futures eased 9 cents, or 0.1%, to $91.84.

MGL net falls 9% to Rs 185.20 cr on higher gas cost, revenue up two-folds

MGL said total gas sales jumped nearly 44 per cent to 313.75 million cubic meters with CNG sales soaring 64 per cent. EBITDA fell 6 per cent to Rs 285.55 crore in April-June.

Europe gas prices soar 30% in 2 days as Russia cuts Nord Stream 1 supply

Ukraine forces hit key bridge in Russian-occupied south

Gas prices can't be looked at in isolation: Puri on Rs 50 LPG price hike

A day after cooking gas LPG prices were hiked by Rs 50 per cylinder, Hardeep Puri said gas prices cannot be looked at in isolation and that fuel prices have been held steady despite volatility

Domestic LPG cylinder rate increased by Rs 50 from today; check prices

A domestic LPG cylinder will now cost Rs 1,053 in the national capital Delhi. In Mumbai, it will cost Rs 1,052.50

Natural gas soars 700%, becoming driving force in the new cold war

In short, natural gas now rivals oil as the fuel that shapes geopolitics. And there isn't enough of it to go around

Gas and food prices likely kept US inflation rate painfully high in May

The costs of gas, food and other necessities likely shot up in May, giving Americans no respite from the worst outbreak of inflation in four decades. Economists have forecast that overall consumer prices jumped 8.2 per cent last month compared with a year earlier, according to data provider FactSet. That would be barely below the 8.3 per cent year-over-year surge in April and the 8.5 per cent increase in March, which was the most since 1982. And on a month-to-month basis, prices are expected to have jumped 0.7 per cent from April to May, up sharply from a 0.3 per cent increase from March to April. The acceleration would almost certainly be due to gas prices, which had declined in April but leaped more than 10 per cent in May alone and have since reached an average of nearly USD 5 a gallon nationwide. America's rampant inflation is imposing severe financial pressures on families, forcing them to pay much more for such items as food, gas and rent and reducing their ability to afford

European gas prices surge after fire in US compounds Russia supply concern

Benchmark futures traded in Amsterdam snapped a six-day falling streak, while UK prices soared as much as 39% before paring gains

CNG price hiked by Rs 2.50 per kg for 2nd day; total increase at Rs 12.50

CNG prices in the national capital on Thursday were hiked for the second day in a row by Rs 2.50 per kilogram, taking the total increase since March to Rs 12.5 per kg. CNG in the National Capital Territory (NCT) of Delhi now costs Rs 69.11 per kg, up from Rs 66.61 per kg, according to the information posted on the website of Indraprastha Gas Ltd (IGL) - the firm which retails CNG and piped cooking gas in the national capital and adjoining cities. Rates had gone up by Rs 2.50 per kg on Wednesday as well. However, there was no change in the rates of Piped Cooking Gas (PNG). It continues to cost Rs 41.61 per standard cubic meter. CNG prices in Delhi have increased by Rs 12.48 per kg since March when city gas distributors started factoring in high international energy prices. On Thursday, Mahanagar Gas Limited (MGL) raised Compressed Natural Gas (CNG) price by Rs 7 per kg to Rs 67 per kg in Mumbai while Gujarat Gas hiked rates by Rs 6.50 per kg to Rs 76.98 per kg. Prices vary from ci

Uber adds fuel surcharge in US and Canada due to high gas prices

The company said that 100 per cent of surcharges will go directly to drivers and delivery people