The price of natural gas in India has reached a record high with an increase of 40 percent.

Only natural gas is converted into CNG and PNG. The direct impact of the increase in the price of gas will be on the transport and cooking expenses. Fertilizers, electricity generation are also done from natural gas.

According to an order by India's oil ministry, the rate of payment for gas produced from old fields has been increased to $8.57 per million British thermal unit from the earlier US$6.1.

Along with this, the gas price for Reliance Industries Limited and its subsidiaries has also been increased from US $ 9.92 to US $ 12.6 per mmBtu.

This is the third hike in natural gas rates since April 2019.

This will be the third increase in rates and has come on the back of firming up of benchmark international prices.

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