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The BMC has issued a directive to local vendors, hotels, restaurants and dhabas not to resort to wood or coal as fuel, and the transition is to be completed by July 8, 2025.
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A part of the price hike was implemented in November/December and more was said to be in the offing
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Supply constraints have left retailers like Indraprastha Gas Ltd. and Mahanagar Gas Ltd. increasingly reliant on more expensive imports — or costly production from new Indian fields, which have proven more technically challenging.
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While Pune leads in CNG sales (35,144 units), Delhi is second with 31,529 units, followed by Mumbai at 24,056 units (January-September ‘24).
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A CNG crisis is brewing with supply of APM gas running low and government cutting allocation to city gas distribution companies. The gas players may have no option but resort to a price hike.
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The policy states that the supply of domestic gas to CGD entities will be made only up to the quantity available and allocated to GAIL (India) limited for these segments.
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The government intends to use biomass, widely and cheaply available in India, as a fuel to reduce dependency on imported natural gas.
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CNG car sales surge 46%, hybrids 19%, while EVs lag with just 7% growth as automakers explore diverse fuel options amid evolving consumer demand and infrastructure challenges.
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One of the biggest advantages of the amalgamation is that Gujarat Gas will be able to utilise the Rs 7,200 crore in carry-forward losses from GSPC. This tax benefit from absorbing the losses is expected to result in a significant profit boost for the merged entity.
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The bike is likely to have flexible fuel options, featuring two separate switches for petrol as well as CNG.
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Higher input gas costs and a one-time marketing expense led to a sharp fall in the unit EBITDA
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The company reported a consolidated net profit of Rs 317.18 crore for the December 2023 quarter, up 84 percent from a year earlier on lower costs.
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The price cut aims to make CNG more accessible and affordable for consumers, promoting the use of cleaner fuel options and sustainable transportation practices.
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The industry had been keenly awaiting reforms, particularly those to promote city gas distribution (CGD) and to bolster natural gas consumption.
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Brokerage UBS has downgraded Indraprastha Gas Ltd (IGL) to sell from buy and cut its target price to Rs 400 a share from Rs 630 a share earlier.
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The government has launched the 12th CGD (city gas distribution) bidding round in six states of Arunachal Pradesh, Meghalaya, Manipur, Mizoram, Nagaland and Sikkim along with two Union Territories of Jammu & Kashmir and Ladakh
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CNG demand is going to remain in a steady growth phase as a price differential of 40-50% against petrol is too good for consumers to ignore. Further, EV risks are mostly overblown.
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The oil ministry has mandated blending of compressed biogas in compressed natural gas and piped natural gas, targeting 1 percent blending by financial year 2025-26.
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For IGL, the one driving factor is the discount enjoyed by CNG over other auto fuels. This alone makes CNG a natural choice for vehicle owners
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Restrictions under GRAP Stage IV are currently in place in Delhi amid plummeting air quality in the national capital.
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MGL had reduced prices of CNG and PNG in April by Rs 8 per kg and Rs 5 per SCM, respectively, while in October, it had cut prices by Rs 3 / kg and Rs 2 / SCM.
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When asked about the rationale behind switching vehicles from CNG to battery-operated ones, the minister said that CNG is not a net zero-polluting mode of transport. At present, non-polluting and zero-emission modes of transport can only be offered by EVs, he added
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The company has high growth potential due to its small size and traction from two GAs that are under development
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The Ministry of Petroleum and Natural Gas has raised the price of domestic natural gas for October, affecting consumers and potentially leading to higher CNG and PNG prices
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The reduction in gas costs has ended the challenging period for CGD companies
