Natural Gas Price likely to be Hiked by 8%
Natural gas price in India is likely to be hiked by 8% from April 1 driven by an increase in rates in reference markets including US Henry Hub. Price of natural gas, used for generating power and making fertiliser and petrochemicals as well as CNG for automobiles, is likely to rise to $2.7 per million British thermal unit from April 1, 2017 to September 30, 2017 from current $2.5 per mmBtu, industry sources said. This will be the first increase in domestic prices in two years. Rates may further rise in second half of FY17.