Recently, Natural gas price has been cut marginally to $2.48 per million British thermal unit (mmBtu). This is the fifth cut-back in last two years.
The natural gas is being produced by state-run companies, Oil and Natural Gas Corp. Ltd., (ONGC) and Reliance Industries Ltd.,(RIL), the price of which has been decreased by $2.48 per mmBtu for almost six-month period from April 1. The National Democratic Alliance (NDA) govt has approved a new formula, wherein, gas prices are to be revised after every six months. This depletion in natural gas prices would help to reduce the raw material cost for compressed natural gas (CNG) and piped natural gas (PNG).
This would indirectly lead to reduction in retail prices, which would further cut the power generation and cost of manufacturing fertilisers.Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.
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