While the price rises for consumers may be limited if absorbed by the city gas distribution (CGD) companies, if not, it could impact the growth of CNG vehicle volumes.
After the reduction in allocation of the cheaper APM gas for the CNG segment for two consecutive months, its share has declined in overall APM gas supplies from over 85% in the beginning of FY24 to 72% now. This was the steepest cut in APM gas allocation to the segment ever.
The industry apprehends that there could be further deallocation of APM gas to the CGD entities given its lower availability.
"This is a change in the policy stance of the government now. There could be further cuts also," said Prashant Vasisht, senior vice president-corporate ratings, Icra.
Denne historien er fra December 06, 2024-utgaven av Financial Express Mumbai.
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Denne historien er fra December 06, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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