Govt raises natural gas price by about 10%, impact will be soon on you

New Delhi: Government has increased the price of indigenously produced gas by about 10 percent to $3.69 per million metric British thermal units (mmBtu) for the April-September period, compared with the previous six months, sources close to the development said. India has also set the ceiling price for gas to be produced from various gas fields at $9.32 per mmBtu for April-September, up about 21.5 percent from $7.67 per mmBtu in the previous six months, the sources told news agency Reuters on Friday.

The impact will be soon on you

The increased gas prices will be applicable on gross heat basis, which means it will directly impact the consumers of the fertilizers, automobiles industries and general households. The government will formally announce the revised prices later, the sources said.

Higher gas prices, however, will lead to higher earnings for state-owned oil and gas companies like ONGC and OIL.