Gas Price Hike: The common citizens, who are already fed up with inflation, are going to get another setback. The central government has decided to increase the price of natural gas by about 40 percent. The price of natural gas has increased from $6.1 per mmBtu to $8.57 per mmBtu. The new rate will be applicable from tomorrow 1 October
The price of natural gas has increased from $6.1 per mmBtu to $8.57 per mmBtu. In April 2022, natural gas prices were raised to $6.10 per mmBtu. Now from October 1, 2022, it has been increased to $ 8.57 per mmBtu. That is, it has been increased by 40 percent. It had doubled in April.
Along with the price of domestic gas, the cost of transportation is also going to increase. The price of natural gas in the international market is rising due to the Russo-Ukraine war. At the end of September, RBI gave a blow to the common man by increasing the repo rate, now it has given a double blow by increasing the price of natural gas.
After the increase of $1 in the price of natural gas, the price of CNG has increased by Rs 4.5 per kg. The price of CNG is likely to increase by Rs 12-13 per kg. In such a situation, the price of PNG is also likely to increase.
RBI hikes repo rate by 50 bps
RBI’s Monetary Policy Announcement RBI has increased the repo rate by 50 bps point i.e. 0.50 percent. With this, the common man will now have to face EMI hike in the festive season. Apart from this, new loans have also become expensive. After the increase in the interest rate of RBI, now the interest rate has gone up to 5.90 percent. RBI has projected the growth rate to be 7 percent in the year 2023. The interest rate has increased by 1.90 per cent in the last five months. Earlier the interest rate was 5.40 percent. Now the interest rate is 5.90 percent.
Related news:
EMI Calculator: Affected by the hike in repo rate, how consumers got stuck in cheap home loans?
Stock Market Closing Bell: Although debt is expensive, the stock market is booming; Sensex, Nifty up
