Gujarat Gas has announced a price hike in the compressed natural gas (CNG) and Piped Natural gas (PNG) segment. In both the segments, they have taken a Rs 3 hike, so that takes the CNG segment prices to around Rs 70 per kilogram and the PNG prices have been hiked to Rs 40 per SCM.
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This has been done keeping in mind that the gas allocation has been lower in Q3 as far as domestic allocation is concerned and also from April 1, gas prices are expected to go higher by as much as $ 3.5 per mmbtu. So to protect themselves or to cushion their margins, the company has gone ahead and taken price hikes.
Watch the accompanying video of CNBC-TV18’s Sonal Bhutra for more details.
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