Natural gas price slashed to $7.82 per mmBtu for January
₹0.50 to ₹4.50 per cylinder. The Petroleum and Natural Gas Regulatory Board (PNGRB) may recommend a specific allocation of natural gas used for cooking, two people aware of the matter told Mint earlier in December, 2023. City gas distributors (CGD) supply both compressed natural gas (CNG) for transportation and piped natural gas (PNG) for cooking.
The natural gas is sourced from legacy fields—old fields which were operated by state-run ONGC and Oil India Ltd. However, there is no specification or mandate on how much gas should go to each of the two segments. The development comes after State-run oil marketing companies (OMCs) reduced the price of the 19-kg commercial cooking gas by up to ₹39.50 per cylinder.
This price cut brought welcome relief to hotels and restaurants, the major consumers of these large cylinders, as reported by Mint in December 2023. In the national capital, a commercial LPG cylinder costs was ₹1,757. In Kolkata and Chennai, the prices were lowered by ₹39.50 to ₹1,868 and ₹1,929 per cylinder, respectively.
Mumbai saw a slight decrease of ₹39, bringing the price to ₹1,929. On December 1, 2023, there was a price hike of ₹21 per cylinder. The recent dip in prices reflects international benchmark fluctuations and potentially offers some breathing room for businesses heavily reliant on commercial LPG.Milestone Alert!
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