Our Special CorrespondentNew Delhi: The hike in domestic natural gas prices to a two-year high of $3.06 per million British thermal unit (mBtu) from April 1 can affect consumers as the input cost of power, fertiliser, piped natural gas and CNG would go up. However, the 6 per cent increase in prices would marginally benefit exploration firms such as ONGC as the appreciation in the rupee would reduce the extent of the hike. "From the consumers' perspective, the increase in domestic gas prices is negative. According to some estimates, every dollar increase in domestic gas prices boosts the annual revenue of ONGC by about Rs 4,100 crore. Additionally, the appreciation of the rupee against the dollar in 2017-18 also dampens the realisation of gas producers."

Source: The Telegraph March 30, 2018 19:07 UTC