Citing adverse impact of currency exchange rates,Adani Gas Ltd the city gas distribution arm of the Adani Group has increased the price of its compressed natural gas (CNG) to Rs 53 per kg from Rs 50.20. This is the third hike in gas prices since November 2011.
Adani Gas had last effected a Rs 5-hike in March 2012. This hike will become effective from midnight on Thursday at 50 CNG stations in Ahmedabad and seven CNG stations in Vadodara,where the company supplies over 3.50 lakh kgs of CNG to over one lakh vehicles every day.
The company also revised the prices of gas for industrial customers. The prices have been revised to Rs 37.25 per cubic metre (excluding 15% VAT) from the current Rs 34.25 per cubic metre.
This revision in the CNG prices have been necessitated mainly due to adverse impact of currency exchange rates. said Rajeev Sharma,CEO of the company said.
There is no increase in the price of piped natural gas supplied to domestic customers.
The company also supplies natural gas to 1.50 lakh domestic customers,700 industries and 1,100 commercial customers in Ahmedabad.