Gas Price Hike: Inflation is going to haunt you more since October 1. Because from CNG to PNG can become more expensive after October 1. Not only this, but electricity to fertilizer can also be expensive. In fact, the government has decided to increase the price of domestic natural gas by 40 percent, which will be applicable from October 1, 2022. The price of natural gas has been increased from $6.1 per mmBtu to $8.57 per mmBtu.
Earlier this year, on April 1, 2022, the price of natural gas was increased to $ 6.10 per mmBtu. With effect from October 1, 2022, it has been increased to $ 8.57 per mmBtu. That is, the direct prices have been increased by up to 40 percent. There was a double price hike in April. In addition, the government has increased the price of natural gas extracted from deep fields to $12.6 per mmBtu from $9.92 per mmBtu.
After the increase in the price of gas, the cost of cooking in the kitchen to electricity and transport is going to increase. Due to the Russo-Ukraine war, there has been an increase in the prices of natural gas in the international markets. Let us tell you that the government reviews the prices of domestic natural gas every six months.
Let us tell you that if the price of natural gas increases by one dollar, then the price of CNG increases by Rs 4.5 per kg. In such a situation, there may be a need to increase the price of CNG by Rs 12 to 13 per kg. So the price of PNG supplied from electricity to homes will also increase. The burden of expenditure on the fertilizer subsidy bill on the government will also increase.
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