Domestic natural gas prices raised for Oct ...Middle East

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Domestic natural gas prices raised for Oct
New Delhi: The Union Ministry of Petroleum and Natural Gas announced an increase in the price of domestic natural gas for the month of October, marking the second consecutive monthly price hike. The price has been increased to $9.20 per mmBtu(million British thermal units) from $8.60 per mmBtu in September. The increase in domestic natural gas prices is likely to lead to an in crease in the prices paid by consumers for Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) as gas distribution companies may pass on the higher costs. This price adjustment comes under the new formula which links the domestic natural gas price to current price of the Indian crude basket. The earlier formula w

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