Government New Gas Pricing Formula, CNG And PNG To Cost 10% Less
The Indian government has announced a new gas pricing formula, which will result in a 10% reduction in the prices of compressed natural gas (CNG) and piped natural gas (PNG). The new pricing formula, called the Gas Exchange Trading Hub, will be implemented from April 1, 2023, and is expected to bring relief to millions of households and businesses that use natural gas. The Gas Exchange Trading Hub is a new mechanism that will allow buyers and sellers of natural gas to trade gas on a common platform, similar to the stock exchange. The price of natural gas will be determined by the market, and the government will not interfere in the pricing mechanism. The new pricing formula is expected to benefit consumers in several ways. Firstly, it will result in a reduction in the prices of CNG, which is used as fuel for vehicles. This will lead to a decrease in the running costs of vehicles, resulting in savings for vehicle owners. Secondly, the new pricing formula will also reduce the prices of...