Govt raises natural gas price for first time in three years
The government on Friday hiked the domestic natural gas price by 16.5%, the first increase in nearly three years after five straight cuts. Price has been raised to $2.89 per MMBTU for six months beginning October 1. The government also raised the price ceiling for gas produced from discoveries in deepwater, ultra-deepwater, high-pressure and high-temperature blocks by over 13%.