New Delhi : The prices of compressed natural gas and piped natural gas are set to be increased next month as the benchmark price of the product is slated to be increased during the by-annual revision due next month.
Sources told TOI that the price might be hiked to $3.06 per unit from the current $2.89 per unit. With the price hike, the cost of urea could be increased, however, the prices of electricity might remain largely unaffected as only 8 per cent electricity is generated using gas-fed plants. However, people who use CNG as vehicles, or PNG as cooking gas, might have to shell out more money.
The increase in the prices will greatly benefits private and public players in the gas market. The benchmark price was raised for the first time in the last three years to $2.89 per unit in October, 2017. This was after the prices were reduced in last five round.