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Gas price likely to fall due to lowering crude oil rate
Posted on: 16/Oct/2014 6:06:07 PM
As the crude oil price is hitting a low unlike past four years, global gas buyers headed by Japan want the sellers to get shifted to gas-to-gas pricing instead of linking it to crude oil prices.
The overall average price of imported gas and the price of it in the global market are considered in India which in turn has its effect on the price of crude oil.
According to Aditya Gandhi, director of Sapient Global Markets (India), the price of Brent crude oil has fallen by 19%, and Henry Hub by 8%. As per this declination, based on Rangarajan formula, there should be a decline in gas price by 15%.
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