There may be an increase in the prices of CNG and PNG in the coming days. After Indraprastha Gas (IGL), now Adani Total Gas said that GAIL has cut the supply of gas to the company by 13 percent from November 16. The company said that this will be effective from November 16, 2024. According to media reports, due to the reduction in the supply of domestic natural gas, now the prices of CNG-PNG can see an increase of up to Rs 4-6.

Adani Total said that this reduction will adversely affect its profitability. The company said in an exchange filing, "This reduction has been made in the CGD (city gas distribution) industry. Although the industry is in discussions with key stakeholders for a solution, the company (Adani Total Gas)'s profitability will be adversely affected."

 

The company said, "Further, the company is examining the current situation and will adjust retail prices for end consumers to mitigate the impact of low allocation, while the company will continue to provide gas to its customers continuously." GAIL further cuts gas allocation This reduction comes after the previous reduction of about 16 per cent notified by GAIL under the Administered Price Mechanism (APM) for the supply of Compressed Natural Gas (CNG) and Domestic Piped Natural Gas (PNG) in October. Adani Total on October 24 reported a 7.5 per cent rise in consolidated profit to Rs 186 crore for the quarter ended September 30, 2024. The company's revenue grew 12 per cent to Rs 1,318 crore in the second quarter of FY 2025. On November 14, shares of Adani Total closed over 1 per cent higher at Rs 688. The company is engaged in CGD business and supplies natural gas to domestic, commercial, industrial and vehicle users.