With the cost of natural gas increasing by a steep 40 per cent from this month on top of a steeper 110 per cent hike during April-September, volume growth is seen more than halving to 8-10 per cent this fiscal from the earlier forecast of around 25 per cent, says a report.
Rating agency Crisil sees industrial consumers switching to other cheaper fuels leading to a demand compression of 10-12 per cent this fiscal, while piped cooking gas demand may fall to 8-10 per cent from an earlier projection of 20-25 per cent as prices since the beginning of this fiscal skyrocketed by 150 per cent.
