S&P ratings gave information

S&P Ratings has given information about this on Friday. However, the new norms will not affect the prices of gas produced from difficult fields. Companies like Reliance Industries Limited operate in such sectors.

The government had announced on April 6,the government had announced new guidelines on April 6, 2023. Under this, the government will fix the prices of domestically produced gas on a monthly basis. This rate will be 10 percent of the Indian crude basket (average price of crude oil imported by India) in the previous month.

Earlier, the review used to happen once in 6 months.

The government also fixed a lower limit of US$ 4 per million British Thermal Unit (unit) and an upper limit of $ 6.5 per unit for the gas price. “We expect the new gas pricing norms to result in more rapid price revisions,” said Shruti Jatakia, credit analyst at S&P Global Ratings. Earlier the prices were reviewed once in six months.

Rating company issued statement

S&P said in a statement that the lower price range means that ONGC will be able to get a price of at least $ 4 per unit on its gas production. Even if the international natural gas prices are historically low. Similarly, an upper limit on prices will limit earnings growth for ONGC. Especially this will be seen amidst the current increased prices.

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The government on Friday fixed the price of natural gas at $7.92 per mmBtu for the rest of April under the new pricing formula. However, rates for consumers have been capped at $6.5 per mmBtu.

Oil Ministry gave information

According to information received from the Ministry of Oil, the Petroleum Planning and Analysis Cell said in an order that the price of natural gas for April 8 to April 30 will be US $ 7.92 per million British thermal units. This price has been fixed on the basis of 10 percent of the average cost of imported crude oil.

Rates fixed for consumers

The Union Cabinet, however, changed the pricing formula and capped the rates for consumers at $6.5 per MMBtu. “The price for gas produced by ONGC/OIL from their old fields shall be subject to a ceiling of $6.5 per mmBtu,” the order said.

How much will the prices go down?

Let us tell you that after this decision, the price of CNG in Delhi will be reduced from Rs 79.56 per kg to Rs 73.59 per kg and PNG from Rs 53.59 per thousand cubic meter to Rs 47.59 per thousand cubic meter. In Mumbai, CNG will cost Rs 79 per kg instead of Rs 87 and PNG will cost Rs 49 per thousand cubic meter instead of Rs 54.

Review happens 2 times

PPAC said in the order that from April 1 to April 7, the price of APM gas will be $ 9.16 per mmbtu. He told that the prices will be fixed every month, while till now they were reviewed twice a year. The notification said, ‘APM prices will be declared on a monthly basis by the Petroleum Planning and Analysis Cell on the last day of the month.’ The government will monitor prices to ensure that the benefit of reduction in CNG and PNG prices is passed on to the consumers.

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In such a situation, there are many important works which you must complete before March 31. Many major changes are going to happen from April 1, 2023 (Rules Changes From April 1, 2023). You may face problems if you do not complete the important work in March. At the same time, your budget can also be affected by this.

These changes include many things ranging from Aadhaar-PAN link to gas cylinder prices and bank holidays etc. It is very important for you to know in advance about these changes going to happen from April 1. With this you can complete all your work before 31 March 2023. After this you will not have to worry about these changes.

Change in rules for buying gold

If you are planning to buy gold, then know that it is going to change from April 1. According to the Ministry of Consumer Affairs, after March 31, 2023, jewelery bearing the four-digit Hallmark Unique Identification (HUID) as hallmark will not be sold. From April 1, 2023, only jewelery with a six-digit hallmark sign will be sold. The Consumer Ministry said that this decision has been taken regarding the confusion of 4 and 6 digit hallmarking.

Link pan card with Aadhaar

If you have not yet linked PAN card with Aadhaar, then do it immediately. If you do not do this, your PAN card will be junk. SEBI has announced that the last date to link PAN card with Aadhaar is March 31, 2023. Otherwise, the PAN card will become useless.

Gas Prices

Gas prices change on the first of every month. However, there was no change in the prices of gas in February. But in this month i.e. March, the price of LPG gas cylinder had increased. LPG cylinder prices have increased by Rs 50. The price of domestic gas cylinder was increased by Rs 50 and that of commercial cylinder by Rs 350. In the last two years, the price of LPG gas cylinder has increased by Rs 284.

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