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Gas prices set to go up
Mar 15: 8The domestic natural gas price is determined by the formula which has been decided according to the New Domestic Gas price formula, which considers the prices of natural gas in USA (Henry Hub), UK (New Balancing Point), Canada (Alberta Gas) and Russia (Russian Natural Gas). Prices of gas in these hubs are market linked.
8Rise in the natural gas price will result in an increase in the cost of manufacturing of urea and petrochemicals where natural gas is used as a feedstock. There will be a rise in the prices of CNG and PNG which will affect the consumers.
8 Increase in price of Natural gas will also affect the margins of the power sector and sponge iron industry where it used for the generation of energy
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