Propane prices in one of the most important regions of Gujarat Gas – Morbi have dropped to Rs 46.5 as against a price of Rs 45.9 in December 2022. Post this drop in prices, the propane differential to gas stands at Rs 5.7. As per channel checks, volumes continue to be lower around 1.5 mmscmd in the Morbi region. This indicates a drop of over 40% compared to Q2FY23 volumes and an over 75% drop to its peak volumes of 6.4 mmscmd. Revival in gas volumes from the Morbi region is one of the key triggers for the stock.
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