India Hikes Domestic Natural Gas Price for Second Straight Month

The Indian government increased the price of domestic natural gas from $8.60/mmBtu to $9.20/mmBtu for October 2023.
This is the second consecutive monthly price increase, after rising from $7.85/mmBtu to $8.60/mmBtu in September.
The new pricing formula is based on the Indian crude basket price rather than international gas hub prices.
Prices are now fixed monthly rather than every 6 months under the old formula.
The price increase may impact consumers as gas distribution companies could raise CNG and PNG prices.

cnbctv18.com

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