In what comes as a huge relief to customers amid the rising inflation in gas prices, it has now been reported that the prices of Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), and Piped Natural Gas (PNG) are likely to decrease drastically.
It has been noted that, the prices for natural gas are going to be drastically cut. Gas prices are fixed every 6 months, the first of which is done in April and then again in October. Natural gas prices, scheduled for October, are now set at $1.90-1.94 per MMBtu. This is the lowest rate of natural gas prices that have been set in more than a decade.
Particularly, natural gas-exporting countries are going to change the benchmark rates. According to sources, the prices of natural gas are to be revised from October 1, 2020. The price of gas will be reduced to $1.94 per million British thermal units (MMBtu) in terms of changes in the benchmark rates of gas-exporting countries (Natural Gas Exporters).