Gas Prices

It is the first revision in two years in the price of gas produced from old fields. In 2023, India fixed a cap of $6.50 per mmBtu for two years with a provision of an annual upward revision of 25 cents from the third year

Expect no further changes in CNG prices: Mahanagar Gas' MD

Mahanagar Gas had hiked CNG prices after the government reduced APM gas allocation to the City Gas Distribution (CGD) companies twice in October and November. With partial restoration of APM gas availability to CGD companies in January, Shinghal said the company’s CNG prices are at par with the cheaper gas allocation.

CGD cos up CNG and domestic PNG prices. Are more hikes likely?

City gas distributors have increased prices of compressed natural gas and piped natural gas in their respective geographical areas by at least Re 1 per kilogram on account of rising input costs.

Exclusive: PNGRB advocating reasonable returns for CGD cos, concerned over extra profits

Member Gajendra Singh said PNGRB has now started working on collecting data for CGD companies' distribution charges to examine prices charged by them.

Why gas prices are rising despite a surplus situation

The biggest players in the oil and gas markets (Russia, Iran and Saudi Arabia) have a vested interest in pushing prices higher, should one call their bluff?

Govt raises domestic natural gas prices to $8.17 per mmBtu for March

The domestic natural gas price, however, will continue to remain at $6.5 for the month, as per the formula used for the calculation of prices.

GAIL eyeing LNG at competitive rates to keep prices affordable for customers

Consumers in India are highly price sensitive, and affordable gas pricing is the only way to ensure that they do not switch to other fuels, said Sanjay Kumar, Director (Marketing).

Lower global gas prices to benefit distributors, importers: Experts

Spot liquefied natural gas (LNG) prices are currently trading at about $10 per million metric British thermal units due to a milder-than-expected winter and high inventory levels in Europe.

Commodity Wrap: Oil hits 6-month low, gold slips, copper surges amid economic uncertainty

Concerns are mounting as doubts emerge about whether OPEC+ production cuts will be sufficient to counter the anticipated oversupply in the first quarter of 2024.

Commodity Wrap: US natural gas slides 10% on demand slump

The US is entering the heating season with the highest natural gas in storage since 2020, the U.S. Energy Information Administration (EIA) had said last week.

Govt lowers domestic natural gas prices to $8.47 per mmBtu for December

The price will continue to remain at $6.5 as per a floor and ceiling of $4 per mmBtu and $6.5 per mmBtu, respectively

Indian gas utilities sector returning to tentative state of normalcy: ICRA

The gas consumption in India is expected to grow by 6-7 percent YoY in FY24 over a low base, supported by softer LNG prices and an uptick in the domestic gas production, the rating agency said in a press release.

High natural gas prices to cool after Australian workers’ stoppage is resolved: Analysts

Gas prices have increased over supply worries amid apprehension of a workers’ strike in Australia. Energy experts said that the spike is temporary and prices would moderate after the conflict was resolved.

Govt hikes domestic natural gas price to $7.85 per mmBtu for August

However, domestic natural gas price will continue to remain at $6.5 per mmBtu for the month, as per the formula used for calculation of gas prices.

Spot gas prices to remain between $8- $12/mmBtu until September: IGX’s Rajesh Mediratta

The MD & CEO of Indian Gas Exchange told Moneycontrol that gas prices may go up to $15 per mmBtu thereafter but are not expected to rise beyond $20 in 2023.

Natural gas prices in Europe, US edge up amid supply issues and rising demand

The uptick in prices has been fuelled by supply issues in Europe and steady demand growth in the US because of hotter temperatures.

Easing LNG prices may pump up local demand of natural gas this year

Natural gas prices have fallen to $2.50 per mmBtu in April 2023, compared to $4.40 MMBtu in January.

MC Exclusive | ‘We will absolutely meet the surge in demand’: Power minister RK Singh

The government says with sufficient coal stocks and gas capacities tied up there won’t be any issues during peak power demand this summer.

Sales of CNG-powered cars poised for major uptick post gas price revision

Lower running costs make the alternative to petrol-fuelled cars more attractive to customers

GAIL Gas reduces domestic PNG, CNG prices

GAIL cut domestic PNG prices by Rs 7 per SCM (standard cubic meter) in Bengaluru and Dakshin Kannada and Rs 6 per SCM in all its other geographical areas.

CNG, piped cooking gas get cheaper in Delhi as Indraprastha cuts prices by up to Rs 6

From tomorrow, CNG will be available in the national capital region for Rs 73.59 per kg, down from Rs 79.56, IGL said in a Twitter post.

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Cabinet approves new mechanism to fix pricing for domestic natural gas

Domestic gas prices are currently at $8.57 per mmBtu as of April 1, with the adoption of the new pricing mechanism, gas prices are expected to see an immediate cut.

Cabinet to consider price caps on gas to stave off rates rising to $10.7 per mmBtu

The global spurt in energy prices post Russia’s invasion of Ukraine have led to rates of locally produced gas climbing to record levels – USD 8.57 per million British thermal unit for gas from legacy or old fields and USD 12.46 per mmBtu for gas from difficult fields. These rates are due to revision on April 1.

Pakistan nearly doubles gas prices to meet IMF bailout terms

Economists predict Pakistan's inflation rate of 26% could jump to 40% because of the new taxes. But they fear the inflation rate will jump to more than 60% if Pakistan fails to get the IMF loan.