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Reliance: The government bi-annually fixes prices of the locally-produced natural gas -- which is converted into CNG for use in automobiles, piped to household kitchens for cooking and used to generate electricity and make fertilisers.
Mahanagar Gas Ltd (MGL) reduces prices of CNG and PNG in Mumbai and adjoining areas. CNG price reduced by ₹3/kg, PNG by ₹2/scm.
India News: The government on Saturday increased by nearly 7% the price of natural gas produced from domestic fields for October in tune with hardening global oil
The price of natural gas produced from difficult areas like deepsea KG-D6 block of Reliance Industries has been cut by 18% in line with softening international gas prices. However, the price of gas used for making CNG for automobiles or piping to households for cooking purposes will remain unchanged due to a price cap set at 30% less than market rates.
Rates for legacy fields are now decided on a monthly basis. For September, the price came to USD 8.60 per mmBtu but because of the cap, the producers would get only USD 6.5 per mmBtu. For September, the price came to USD 9.2 per mmBtu but because of the cap, consumers will continue to pay ONGC and OIL USD 6.5. Gas Price for Reliance Cut by 18% to USD 10; Rate for Gas That Feed CNG, PNG Supplies Unchanged at USD 6.5.