Gas Price Hike: Inflation is going to haunt you more since October 1. Because from CNG to PNG can be more expensive from October 1. Not only this, but electricity to fertilizer can also be expensive. In fact, on September 30, 2022, the government is going to review the prices of domestic gas. And it is believed that after the huge increase in gas prices in the international market, the government can make a big increase in domestic natural gas prices from October 1, 2022.
On April 1, 2022, the price of natural gas was increased to $ 6.10 per mmBtu. But from October 1, 2022, it can be increased to $ 9 per mmBtu. That is, an increase of up to 50 percent in direct prices is possible. There was a double price hike in April. Apart from this, the government may increase the price of natural gas extracted from deep fields from $ 9.92 per mmBtu to $ 12 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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