Nat­u­ral Gas Price likely to be Hiked by 8%

The Economic Times - - Economy: Macro, Micro & More -

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.

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