September 30, 2022

Natural Gas Price Hikes By 40%

Urvi Srivastava Financial Reporting hike, natural gas

The price of natural gas can be increased in the review of prices to be held on October 1

The price of natural gas has risen by 40 per cent to a record high. With this, it is now being speculated that the price of LPG may also increase in the review of LPG to be held on the first of the month.

It is worth noting that the price of natural gas can be increased in the review of prices to be held on October 1. Actually, the price is fixed by the government every 6 months. This review is done on 1 April and 1 October every year. With the increase in the price of natural gas, it is being speculated that the price of CNG can be increased.

Apart from this, the price of crude oil saw a rise on Friday by Rs 27 to Rs 6,727 per barrel. On the Multi Commodity Exchange, the price of crude oil contracts for delivery in the month of October registered a rise. The contract for delivery in October rose by Rs 27, or 0.4 per cent, to Rs 6,727 per barrel. There was a business of 6,085 lots in this. Market analysts said raising of positions by participants led to the rise in crude oil futures.