Natural gas price may rise 57% on October 1, says report
Domestic formula-based natural gas price would rise 57% in its next revision on October 1, triggering another round of steep price hikes for CNG and residential piped gas, ICICI Securities NSE -0.50 % said in a report.
The government uses an international prices-fed formula to revise domestic natural gas prices every April and October. The prices will rise to $3.15 per mmBtu in October from the current $2 per mmBtu on a net calorific value basis, as per the brokerage.
