State-run Gujarat Gas Ltd on Saturday, October 28, announced a ₹2.3 per standard cubic metre (scm) increase in industrial gas price to ₹45.6/scm. The same will be in effect from November 1, 2023.
The equivalent propane price is ₹42.2/scm. The hike is in line to the recent rise in spot LNG price.
Propane is now marginal discount to gas as the government removed the additional import duty on it from September 1, 2023, which was levied in July this year.
On September 1, it had hiked gas prices for customers in Morbi, Gujarat for the second time in a fortnight, to ₹2.5/scm to ₹43.3/scm.
In August, Gujarat Gas had announced a ₹2.5 price hike in industrial gas to ₹40.83/scm.
On another note, in the first qurter this fiscal, the company reported a 43.4% decline in net profit at ₹215.1 crore from ₹382 crore in the year-ago period.
