Page 3 - Gas Price
Domestic LPG cylinder rate increased by Rs 50 from today; check prices
A domestic LPG cylinder will now cost Rs 1,053 in the national capital Delhi. In Mumbai, it will cost Rs 1,052.50
 "Domestic LPG cylinder rate increased by Rs 50 from today; check prices")
Natural gas soars 700%, becoming driving force in the new cold war
In short, natural gas now rivals oil as the fuel that shapes geopolitics. And there isn't enough of it to go around
 "Natural gas soars 700%, becoming driving force in the new cold war")
Gas and food prices likely kept US inflation rate painfully high in May
The costs of gas, food and other necessities likely shot up in May, giving Americans no respite from the worst outbreak of inflation in four decades. Economists have forecast that overall consumer prices jumped 8.2 per cent last month compared with a year earlier, according to data provider FactSet. That would be barely below the 8.3 per cent year-over-year surge in April and the 8.5 per cent increase in March, which was the most since 1982. And on a month-to-month basis, prices are expected to have jumped 0.7 per cent from April to May, up sharply from a 0.3 per cent increase from March to April. The acceleration would almost certainly be due to gas prices, which had declined in April but leaped more than 10 per cent in May alone and have since reached an average of nearly USD 5 a gallon nationwide. America's rampant inflation is imposing severe financial pressures on families, forcing them to pay much more for such items as food, gas and rent and reducing their ability to afford
 "Gas and food prices likely kept US inflation rate painfully high in May")
European gas prices surge after fire in US compounds Russia supply concern
Benchmark futures traded in Amsterdam snapped a six-day falling streak, while UK prices soared as much as 39% before paring gains
 "European gas prices surge after fire in US compounds Russia supply concern")
CNG price hiked by Rs 2.50 per kg for 2nd day; total increase at Rs 12.50
CNG prices in the national capital on Thursday were hiked for the second day in a row by Rs 2.50 per kilogram, taking the total increase since March to Rs 12.5 per kg. CNG in the National Capital Territory (NCT) of Delhi now costs Rs 69.11 per kg, up from Rs 66.61 per kg, according to the information posted on the website of Indraprastha Gas Ltd (IGL) - the firm which retails CNG and piped cooking gas in the national capital and adjoining cities. Rates had gone up by Rs 2.50 per kg on Wednesday as well. However, there was no change in the rates of Piped Cooking Gas (PNG). It continues to cost Rs 41.61 per standard cubic meter. CNG prices in Delhi have increased by Rs 12.48 per kg since March when city gas distributors started factoring in high international energy prices. On Thursday, Mahanagar Gas Limited (MGL) raised Compressed Natural Gas (CNG) price by Rs 7 per kg to Rs 67 per kg in Mumbai while Gujarat Gas hiked rates by Rs 6.50 per kg to Rs 76.98 per kg. Prices vary from ci
 "CNG price hiked by Rs 2.50 per kg for 2nd day; total increase at Rs 12.50")
Uber adds fuel surcharge in US and Canada due to high gas prices
The company said that 100 per cent of surcharges will go directly to drivers and delivery people
 "Uber adds fuel surcharge in US and Canada due to high gas prices")
Gas tops $4 per gallon average across US, 1st time since 2008
The price of regular gasoline broke $4 per gallon (3.8 liters) on average across the U.S. on Sunday for the first time since 2008.
 "Gas tops $4 per gallon average across US, 1st time since 2008")
Reliance Industries expects bumper profits from global gas crunch
The conglomerate expects India in April to raise the price cap for its offshore gas sales by nearly 60% to around $10 per million British thermal units
 "Reliance Industries expects bumper profits from global gas crunch")
Top headlines: India halts some int'l flights till Jan 31; gas prices surge
Scheduled international flights will remain suspended till January 31 next year. More on that story in our top headlines.
 "Top headlines: India halts some int'l flights till Jan 31; gas prices surge")
EU countries struggle to find joint response to energy price spike
Energy ministers from European Union countries meet to debate their response to high gas and electricity prices
 "EU countries struggle to find joint response to energy price spike")
India's gas consumption to jump more than 3 times by 2030: GAIL Director
India's natural gas consumption is projected to rise to as much as 550 million standard cubic meters per day by the end of the decade as the user base expands GAIL India's E S Ranganathan said
 "India's gas consumption to jump more than 3 times by 2030: GAIL Director")
Govt sets up committee for stable gas price for power units: Oil Secretary
The government has set up a committee to work out measures need to make natural gas available to power plants at 'reasonably stable prices', Oil Secretary Tarun Kapoor said on Thursday.
 "Govt sets up committee for stable gas price for power units: Oil Secretary")
Belarus President threatens to shut EU gas flow in border spat
European gas prices reversed earlier losses after the threat
 "Belarus President threatens to shut EU gas flow in border spat")
Domestic gas price revised to $2.9 for Oct 2021-March 2022, up 62%
The rate for gas produced from difficult fields such as deepsea will be $6.13 per mmBtu
 "Domestic gas price revised to $2.9 for Oct 2021-March 2022, up 62%")
ONGC agrees to remove marketing margin, but refuses to lower gas price
Potential bidders however opposed the levy of the marketing margin as well as the "high" floor price
 "ONGC agrees to remove marketing margin, but refuses to lower gas price")
Domestic LPG to be cheaper by Rs 10 per cylinder from April 1
After raising cooking gas prices by Rs 125 per cylinder last month, state-owned oil firms on Wednesday announced a Rs 10 per cylinder cut in LPG rates on softening international oil prices. A 14.2-kg LPG cylinder -- both for subsidised and market price users -- will cost Rs 809 from April 1 as against Rs 819 currently, Indian Oil Corporation (IOC) said in a statement. The price cut, which traditionally is announced on the day the change is effective -- four times the rates went up in a span of one month -- was announced a day ahead of the second phase of voting in West Bengal. The politically-crucial Nandigram constituency from where state Chief Minister Mamata Banerjee is taking on her once-trusted aide Suvendu Adhikari, who is contesting on BJP ticket, is also going for polls on Thursday. "Prices of crude oil and petroleum products in the international market have been on a constant uptrend since November 2020. As India is largely import-dependent on crude oil and the prices are
 "Domestic LPG to be cheaper by Rs 10 per cylinder from April 1")
Gas price for ONGC remains at decade low of $1.79, falls 11% for RIL-BP
The government on Wednesday left the price of natural gas produced by companies such as ONGC unchanged at a decade-low rate of USD 1.79
 "Gas price for ONGC remains at decade low of $1.79, falls 11% for RIL-BP")
Budget 2021-22 wishlist: Here are the key challenges in oil & gas sector
Low gas price cycles are posing challenges to new upstream gas projects in deep-water fields
 "Budget 2021-22 wishlist: Here are the key challenges in oil & gas sector")
GAIL, ONGC look to firm up strategies for low oil and gas price regime
India aims to more than double its gas consumption by 2030
 "GAIL, ONGC look to firm up strategies for low oil and gas price regime")
ONGC to take Rs 7,000 cr hit over gas price; govt may alter pricing formula
Prices touched historic low of $1.79 per mmBtu for October-period of current financial year, down 25% from $2.39 per mmBtu during April-September period
 "ONGC to take Rs 7,000 cr hit over gas price; govt may alter pricing formula")
