ATGL Slaps Second CNG Price Hike in 12 Days Amid Global Gas Price Surge
Adani Total Gas Ltd (ATGL) has increased the retail price of compressed natural gas (CNG) in Gujarat, India by Rs 4 per kg. This is the second hike in CNG prices by ATGL in less than two weeks.
The new rate is now at Rs 94.02 per kg from Rs 90.02 per kg with effect from August 1st. The previous increase was on July 19th, when the price rose to Rs 90.02 per kg from Rs 88.02 per kg.
According to ATGL, the rise in CNG prices is due to a sharp increase in natural gas procurement costs. This is attributed to reduced availability of domestic gas, supply curtailments, and a surge in global gas prices amid geopolitical tensions.
An ATGL spokesperson stated that despite these challenges, the company continues to make every effort to minimize the impact on consumers while ensuring uninterrupted supply of CNG.