Natural Gas Price: Gas prices may increase in the country, new prices will be decided on October 1

The prices of natural gas can be increased by the government in the coming days. Natural gas is used extensively in the country for CNG used in fertilizer production, generating electricity and driving vehicles. This information has been given by the sources.

The price fixed by the government for natural gas produced in the country is to be revised on October 1. Let us tell you that the new prices of natural gas are released by the government twice a year on 1st April and 1st October.

Gas prices may increase so much

In the last few months, there has been a big jump in gas prices in the international market, after which it is believed that the price of gas received by the state-owned oil company ONGC can now be increased to $ 9 per million British thermal units (mmBtu). Well, it's currently $6.1.

Apart from this, the price of natural gas produced from the D6 block of KG Basin, operated by Reliance Industries Limited, can be increased to $ 12 today, at present it is $ 9.92.

Will increase for the third time

If the government increases the price of natural gas on October 1, it will be the third increase in gas prices after April 2019. Gas prices are revised twice a year by the government. Gas prices in India are determined on the basis of the prices fixed in the world's largest gas producing countries America, Canada and Russia. 

Government formed committee

Sources said that the government has formed a committee and it has been said that a new formula should be made regarding the gas produced in the country, so that the prices of domestic gas do not have to be increased. Members of ONGC, GAIL, Indian Oil Corporation and Ministry of Fertilizers have been included in this committee.