IGL, MGL, Gujarat Gas in focus: Gas regulator says ‘will not intervene in pricing’ [Video]

The city gas distribution space is abuzz, and not for the best reasons. The three companies, IGL, MGL and Gujarat Gas have cut prices. IGL and MGL for the CNG segment and Gujarat Gas for the industrial segment and all of them cited lower natural gas prices as the reason for this price cut.

But price cuts are the usual course of business, why did the stocks fall so much? This is because, at the same time, the oil minister in a press conference said that gas sector reforms have not reached the end consumers at a time when the government is focusing on affordable gas prices, and added that they are worried about high profits earned by these companies and the government is ready to take steps with respect to pricing and ensure compliance by the companies.

That is not it, the PNGRBalso uploaded a document on Wednesday (March 6) that indicated that MGL’s …