Prices of Natural Gas, which is used as fuel to generate electricity, run vehicles, to make fertilisers and more, on Friday, were hiked by 40 percent. This is the result of surging rates of natural resources in the global market.
Natural Gas Rates Hiked By 40 Percent
“The rate paid for gas produced from old fields, which make up for about two-thirds of all gas produced in the country, was hiked to USD 8.57 per million British thermal units from the current USD 6.1, according to an order from the oil ministry’s Petroleum Planning and Analysis Cell (PPAC).”
This is the third hike in rates since April, 2019 which is the result of surging inflation in global markets.
Natural Gas is an “input for making fertiliser as well as generating electricity. It is also converted into CNG and piped to household kitchens for cooking purposes. A steep increase in prices is likely to reflect in higher rates for CNG and piped natural gas (PNG), which has in the last one year risen by over 70 per cent.”
Usually, the Government modifies the gas rates every six months, which means two times in a year for which the dates are April 1 and October 1 respectively. These rates depend upon the gas surplus nations US, Canada and Russia markets.
“So, the price for October 1 to March 31 is based on the average price from July 2021 to June 2022. This is the period when global rates shot through the roof.”
No Fuel Without A Valid or Proper Pollution Under Control (PUC) Certificates
The AAP Government of Delhi has decided upon setting a new rule for all vehicle owners in effect from October 25. There will be no diesel or petrol for anyone who does not have a valid or proper PUC or Pollution Under Control Certificate, informed by Gopal Rai, Delhi Environment Minister.
“Vehicular emission is one of the key contributors to rising pollution in Delhi. It is imperative to reduce it so it has been decided that from October 25 petrol, diesel will not be provided at petrol pumps without PUC certificate of the vehicle”, Minister asserted.
“Delhi government will launch its 24X7 war room on October 3 to combat pollution and ensure effective and serious implementation of amended Graded Response Action Plan (GRAP)”, he added.
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