INSUBCONTINENT EXCLUSIVE:
Increase in natural gas prices means higher prices for gas for fertilizers, automobiles and households.Government has raised the price of
its locally produced gas by about 10 per cent to $3.69 per million metric British thermal units (mmBtu) for the April-September period,
compared with the previous six months, a source aware of the development said.Government has also set the ceiling price for gas to be
produced from difficult fields at $9.32 per mmBtu for April-September, up about 21.5 per cent from $7.67 per mmBtu in the previous six
months, the source told Reuters on Friday.The government will formally announce the revised prices later in the day, the source said.The
prices will be applicable on gross heat value basis
The increase in natural gas prices means higher prices for gas for fertilizers, automobiles and households.Higher gas prices, however, will
lead to higher earnings for state-owned Oil and Natural Gas Corp Ltd and Oil India Ltd.Get the latest election news, live updates and
election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections
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