Rising Gas Prices

The government last week raised the prices of gas produced from old fields, called APM gas, to $8.57 per million British thermal unit from $6.1

At a more macro level, Fitch now expects world GDP to grow by 2.4 per cent in 2022 - revised down by 0.5 percentage points (ppt) since the June assessment

As global prices soar, another committee to review gas pricing policies may find the going more challenging

In short, natural gas now rivals oil as the fuel that shapes geopolitics. And there isn't enough of it to go around

However, despite the likely pressure on volumes and margins, and having cut earnings estimates, most analysts are positive on the natural gas sector

Besides the petrol, diesel and LPG prices, compounding the woes for manufacturers and consumers alike is the sharp hike in prices of natural gas starting April 1 for a period of six months

While company officials declined to comment, they said volatility in gas prices was a challenge