The natural gas distribution company has announced a hike in the price of Compressed Natural Gas (CNG) by Rs 1 to Rs 3 per kg. In the capital Delhi, its prices have been increased by ₹ 1 per kg, while in other cities the increase is Rs 3 per kg.

Indraprastha Gas Limited (IGL) stock is expected to be in a good shape on Monday, April 7, as the company has announced to sell Compressed Unit Gas (CNG) at Rs 1 to Rs 3 per lakh. The price in Delhi is ₹ 1 per kg, while in others it is ₹ 3 per kg. This is the first time CNG prices have increased in the Delhi market since June 2024.

Delhi accounts for 70% of IGL’s total CNG sales, while the remaining 30% comes from other markets. After the price hike, the price of CNG in Delhi has now reached ₹ 76.09 per kg. While in Noida and Ghaziabad it is ₹ 84.70 per kg. In November 2024, IGL had increased the price for markets other than Delhi.

Brokerage firm Jefferies had said in a February note on IGL that a price hike of Rs 2 per kg would be sufficient to maintain current margin levels. The price revision comes soon after the government announced a 4% hike in gas prices under the Administered Price Mechanism (APM).

APM gas prices have been fixed at $6.75 per mmBtu for the period April to September this year. Prices remained stable at $6.5 per mmBtu in the first three months of the year. This is the first increase in the price of APM gas since April 2023. This is in line with the recommendations made by the Kirit Parikh panel.

As per the panel’s recommendations, there was a provision for a 4% hike in gas prices from the third year of implementation, which was implemented from April 2023. It remains to be seen how big names like IGL and MGL react to the price hike. As of last Friday’s close, IGL shares were still down 30% from their peak. While MGL shares were down 33%.

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The post CNG Price Hike: CNG prices increased by 1 to 3 rupees per kg, know the rate in your city first appeared on Rightsofemployees.com.

Natural gas extracted from underground and below the sea level from sites from the Arabian Sea to the Bay of Bengal within India is the raw material that is converted into CNG for vehicles and piped natural gas (PNG) used in kitchens.

Four sources familiar with the matter said that the prices of production from old fields are controlled by the government. These are used to pay urban gas retailers. Production from these fields is declining by five percent annually. Due to this, supply to urban gas distribution companies has been cut.

Sources said that the gas supplied for kitchens in homes is conserved. In such a situation, the government has cut the supply of raw material for CNG. The gas obtained from old fields used to meet 90 percent of the CNG demand in May 2023 and it is continuously declining. He said that from October 16, the supply has been reduced to only 50.75 percent of the CNG demand, which was 67.74 percent in the previous month.

City gas retailers are being forced to buy imported and expensive liquefied natural gas (LNG) to make up for this shortfall, which will increase CNG prices by Rs 4-6 per kg. Gas from old fields costs US$6.50 per million British thermal units (mmBtu), while imported LNG costs $11-12 per unit.

Sources said that at present retailers have not increased the rates of CNG as they are in talks with the Ministry of Petroleum and Natural Gas to find a solution. One option is that the government cuts the excise duty on CNG. Currently, the central government levies 14 percent excise duty on CNG, which comes to Rs 14-15 per kg.

He said that if it is reduced, retailers will not have to pass on the increased cost to consumers. The increase in CNG prices is also a political issue as elections are due in Maharashtra next month and in Delhi soon. Delhi and Mumbai are among the largest CNG markets in the country.

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The post CNG Price Hike: CNG prices may increase by 4 to 6 rupees, know what is the reason? first appeared on Rightsofemployees.com.

In the first week, the prices of CNG, PNG are fixed in cities like Delhi, Mumbai. A service of Yes Bank is going to stop from 1st December. Along with this, the rules for withdrawing money from PNB Bank’s ATM are also going to change. Let’s know about these rules.

LPG, PNG, CNG prices will be fixed

The prices of PNG, CNG are fixed across the country on the first of every month. In Delhi and Mumbai, companies change the rate in the first week of the month. If we look at the trend of the last few months, the prices of CNG and PNG have increased in Delhi-NCR and Mumbai. Also, the prices of LPG Rasoi Gas Cylinder are fixed on the first date of every month. Last month, the government had reduced the prices of 19 kg commercial cylinders. However, there was no change in the price of 14 kg domestic cylinder. This time it is expected that the government will reduce the price.

2. Change in timings of many trains

Due to the increase in winter in the month of December, the timetable of many trains is changed. There is difficulty in movement due to fog in winter. Railways can change the timing of morning trains in view of the fog.

3. The method of withdrawing cash from ATM will change

Punjab National Bank (PNB) is going to change the process of withdrawing cash from ATMs in December. Now while withdrawing cash from ATM, an OTP will be generated on your registered mobile number which you will have to enter on the screen of ATM. Only after that the cash will come out.

4. Yes Bank will not provide this service

Yes Bank is discontinuing the balance alert service provided through SMS. The customers who are getting balance alert SMS service under any package will not get it from tomorrow, December 1. However, if the subscription time of your package is left, then you will continue to get this service till the subscription is valid.

5. Pensioners have to submit Life Certificate

To continue taking pension, pensioners have to submit their annual life certificate today. By 30 November 2022, pensioners can submit life certificate by visiting the branch itself or online. He will have to settle this task today. So that, they continue to get pension and do not face any kind of problem in the month of December.

The post New Rules 1st December: Big News! There will be a big change in these five rules from tomorrow, know immediately otherwise… first appeared on Rightsofemployees.com.

If you do not submit the life certificate by November 30, you may face problems in getting pension. Also, banks are going to remain closed for 13 days in December. Let us know the details of these rules.

PNG, CNG prices will be fixed

Mostly on the first date or first week of every month, the prices of PNG, CNG are fixed across the country. In Delhi and Mumbai, companies change the rate in the first week of the month. If we look at the trend of the last few months, the prices of CNG and PNG have increased in Delhi-NCR and Mumbai.

LPG cooking gas cylinder prices will be fixed

The prices of LPG Rasoi Gas Cylinder are fixed on the first of every month. Last month, the government had reduced the prices of 19 kg commercial cylinders. However, there was no change in the price of 14 kg domestic cylinder. This time it is expected that the government will reduce the price.

Bank will remain closed for 21 days and stock market for 13 days.

Banks are going to remain closed for a total of 13 days in December 2022. The 13 days of bank holidays include weekend holidays on the second and fourth Saturdays and all Sundays. December marks Christmas, the last day of the year and Guru Gobind Singh’s birthday, on which banks are closed. All private and public banks in India remain closed on holidays. However, some banks observe local festivals and holidays and remain closed on that day in the state. When the banks are closed, you can do most of your work through online banking.

4. Pensioners have to submit life certificate by 30th November

Pensioners have to submit their annual life certificate by 30 November 2022 to continue receiving pension. Pensioners can submit the Life Certificate by visiting the branch in person or online. They will have to complete this work by 30 November. So that, their pension does not stop and they do not have to worry about the subsequent hassles.

The post Financial Rules from 1st December: Many rules related to your daily life will change from 1st December. first appeared on Rightsofemployees.com.