Adani Total Gas reduces CNG and PNG prices from April 8, Check Latest Rates

On Friday, Adani Total Gas Ltd. (AGTL) lowered the cost of compressed natural gas (CNG) and piped natural gas (PNG) in all 19 of the regions it serves. The price of PNG and CNG will both be reduced by up to 5.06/scm and Rs 8.13/kg, respectively, under the new tariff announced by Adani Total Gas Ltd.

Beginning on April 8, 2023, petrol prices will be lower. The GoI's decision to tie the APM for gas delivery to CNG automobiles and residential customers to 10% of the Indian crude basket with a floor price of $4 and a cap price of $6.5 per MMBTU was praised by Adani Total Gas Ltd in a prepared news release.

The choice was made shortly after the cabinet approved a new pricing system for the majority of domestic natural gas generated by state-run explorers. The new pricing structure is thought to bring down the price of PNG and CNG. The Cabinet's decision was based on the expert panel's recommendation of a floor price of $4 per unit and a ceiling price of $6.5 for natural gas produced from formerly administered price mechanism fields controlled by state-owned explorers like Oil and Natural Gas Corporation (ONGC) and Oil India Limited.

In a statement praising the GoI's new APM gas price formula, ATGL stated, In line with our policy to prioritise our end consumers, ATGL has decided to pass through the advantages of the New Gas Price Guidelines made public by the Indian government to the large number of domestic PNG and CNG users, improving the affordability of PNG and CNG with savings of over 40% for CNG users in comparison to petrol prices and roughly 15% in comparison to LPG pricing.
A statement from ATGL regarding the decision to lower the price of CNG and PNG read, "From midnight today, ATGL is delighted to announce a reduction in the price of CNG up to $8.13 per kg and the price of PNG up to $5.06 per scm."