homevideos Newsenergy NewsDomestic gas prices likely to shoot up on Friday for next six months
videos | Mar 31, 2022 3:23 PM IST

Domestic gas prices likely to shoot up on Friday for next six months

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It will be a six-monthly price revision for domestic gas prices and it is expected to be much higher than in the last six months because of the steep hike in global gas prices.

Domestic gas prices are set to be hiked from April 1 (Friday) and the market expects a steep increase, with some predicting a more than doubling of rates. The rate hike is a part of the six-month revision process undertaken by the government.

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Expectations
CLSA expects prices to shoot up by almost 120 percent, which will be more than double the $7/mmBtu mark. Jefferies has put out a note where they expect a price hike to around $6.60/MMBtu.
Impact on listed players
All this is positive for gas producers like Oil India, ONGC, HOEC etc. but it will be negative for city gas distribution companies, fertilisers and ceramic companies.
City gas distribution companies have already taken some price hikes because of the higher spot LNG prices but some more is likely in store.
Watch the accompanying video of CNBC-TV18’s Sonal Bhutra for more details.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

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