Zoom News : Sep 30, 2023, 06:40 PM
CNG-PNG Price: In the coming days, you may have to spend more on CNG and PNG in the country. Actually, the government has announced an increase in the price of domestic natural gas from October 1, 2023. The government has increased domestic natural gas prices for the month of October from $8.60/mmBtu (Metric Million British Thermal Units) to $9.20/mmBtu. This price will be valid till 31 October 2023. According to the news of IANS, the Ministry of Petroleum and Natural Gas has also issued a notification in this regard on Saturday.Increase for the second consecutive monthAccording to the news, the price of domestic natural gas has increased for the second consecutive month. In September, prices were increased from $7.85/mmBtu to $8.60/mmBtu. Now, prices for October have been increased from $8.60/mmBtu to $9.20/mmBtu.New formula has been usedThe price of gas (domestic natural gas price) has been adjusted according to the new formula. In this, the price of domestic natural gas has been linked to the current price of the Indian basket of crude oil. Earlier, it was based on the prices of four major global gas trading centres. The new pricing mechanism was introduced in October 2022 on the recommendations of an expert committee constituted by the government. Under this new formula, the price of domestic natural gas is changed every month.