New Delhi: From April 1 natural gas price is likely to be hiked by 8% sources said. This will be the first increase in domestic gas prices in two years.
As per sources, price of natural gas, used for generating power and making fertiliser and petrochemicals as well as CNG for automobiles, is likely to rise to USD 2.7 per million British thermal unit for the period from April 1, 2017 to September 30, 2017 from current USD 2.5 per mmBtu.
Rates may further rise to USD 3.1 per mmBtu in second half of 2017-18 fiscal (April to March).
Rates were last changed on October 1, 2016 when there were cut by 18% to USD 2.5 per mmBtu from USD 3.06. This was the fourth six monthly reduction.