In a major boon for the consumers, the natural gas prices are likely to witness a steep decline of as much as 25 per cent starting April, reports The Economic Time.
The massive price cuts would be in line with the slump in the global rates of natural gas in recent times. It would mark the second such reduction of the rates in six months and will bring down the rates to the lowest they have been in over two and a half years.
The cuts in the prices of natural gas will also bring down the prices of CNG in the markets as natural gas is a key input in the CNG which is consumed by vehicles in large amounts as an environment-friendly fuel.
The cut in the prices will also bring down the prices of the PNG which is used for cooking purposes, and also for manufacturing of fertilisers and petrochemicals.
It should be noted that the prices of natural gas are revised every six months. Once on 1 April and thereafter on 1 October.
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