CNG price hiked Newspaper Report 2021

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 On September 30, a notification issued by the Petroleum Planning and Analysis Cell (PPAC), an arm of the Ministry of Petroleum and Natural Gas, stated that the price of domestically produced natural gas would be $2.90 per million British thermal unit (mmBtu) from October 1, 2021, to March 31, 2022.

CNG price hiked Newspaper Report 2021

Price hiked from October to March

The government has increased the rates of domestic natural gas to $2.90 per million British thermal unit from October 2021 to March 2022. The price of very hard-to-remove natural gas from places like its deep ocean and high temperatures coupled with high pressure has raised the price to 6.13 per million British thermal units. It was $3.62 per million British thermal units in the last six months.

Prices of fertilizers, CNG and PNG will increase rapidly


Due to the decision of the government to increase the price, the price of CNG, PNG and fertilizer can rise sharply, because natural gas is used to produce fertilizer, power generation and CNG gas.

IMPORTANT LINK


Natural gas prices affect the earnings of state-run producers such as Oil and Natural Gas Corp Ltd and Oil India Ltd. This is the maximum price that Reliance Industries Limited and its affiliate BP Plc are entitled to for gas originating from deep sea blocks like KG-D6. In cities like Mumbai, the price of CNG and piped LPG supplied to households will increase by 10-11 percent.



Common man will have a lot of trouble

This step by the government to increase the price of natural gas will cause a lot of trouble to the common people. Because natural gas is used in many places. CNG is manufactured from natural gas, now due to increase in its price, the price of CNG will also increase very soon. Apart from this, electricity bill will also be affected due to this because electricity is also produced from natural gas.

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