HomeLifestyleCNG-PNG prices will be lower! Know which consumers will benefit the...

CNG-PNG prices will be lower! Know which consumers will benefit the most

Highlights

Kirit Parikh committee may submit its report next week.
Discounted gas prices may be recommended in the report.
Stakeholders meeting tomorrow to finalize the report.

New Delhi. There is a big news for CNG and PNG consumers. It is possible that after the next week, the prices of both will come down. CNBC-Awaaz has informed, quoting sources, that the Kirit Parikh committee can submit its report to the government in the first week of November. This committee was formed to find out what should be the right rate of CNG and PNG for common consumers.

According to the information received, the Kirit Parikh committee is going to submit its report next week. Discounted gas prices can be recommended for general consumers in this report. If this happens, it will be news of relief for direct consumers of CNG, PNG as well as consumers of gas based fertilizers, and gas based power plants.

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According to a report by Moneycontrol, Kirit Parekh is likely to recommend a range of $6-7 per million British thermal units (mmbtu) in this report. The committee has called a meeting of stakeholders on Monday 31 October, ie tomorrow, to finalize the report. This report will be in 2 parts. It will have separate recommendations for CGD as well as fertilizer and power plants.

Gas prices are fixed twice a year
Explain that the government fixes the price of natural gas every six months on 1 April and 1 October. Gas prices are determined by taking into account the gas prices of gas surplus countries such as the US, Canada and Russia.

Since, a global crisis has arisen due to the Russia-Ukraine crisis. For this reason, on October 1, the government had increased the price of natural gas by a record 40 percent. The price of natural gas has been increased from $6.1 to $8.57 per million British thermal units (mmBtu). This is affecting CNG and PNG consumers.

Tags: business news, CNG, CNG price, Domestic natural gas price, inflation, PNG price

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