Gujarat Gas increased gas charges for customers in Gujarat's Morbi
The second time in a fortnight, natural gas distribution provider Gujarat Gas increased gas charges for customers in Gujarat's Morbi on September 1. As of now, the cost of a standard cubic metre of gas (scm) has increased by Rs 2.5, to Rs 43.3/scm.
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On August 21, the government-run Gujarat Gas announced a price increase for industrial gas of Rs 2.50. Bringing the price from the previous Rs 38.43 per scm to Rs 40.83 per scm.
The price increase coincides with an increase in petrol prices worldwide. It should be mentioned that the majority of Gujarat Gas's gas is imported.
The company has implemented five straight price reductions in 2023 prior to the increase in industrial gas last month.
Gujarat Gas recorded a 43.4 percent year-over-year (YoY) fall in net profit for the quarter from April to June in August, coming in at Rs 215.1 crore. According to the company's quarterly results report, industrial sales volumes climbed by 10%. Reaching to 5.88 mmscmd (million metric scm per day) from 5.36 mmscmd in the previous quarter.
According to the firm, this was caused by lower spot LNG prices. This were passed through to industrial clients to make natural gas more competitive with other fuels.
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