Page 39 - Policy Economic Report - August 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Figure 19: Global natural gas price trends ($/mmbtu)

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Jul-21
Sep-21
Nov-21
Jan-22
Mar-22
May-22
Jul-22
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Jan-23
Mar-23
May-23
Jul-23
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Jan-24
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May-24
Jul-24
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Jan-25
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May-25
Jul-25
Domestic gas price Henry Hub Natural Gas Spot Price Natural gas, Europe Spot LNG price, Japan

Source- EIA, World Bank

Table 7: Gas price, July 2025 Price ($/MMBTU) MoM YoY
Natural Gas (%) change (%) change

India, Domestic gas price (Aug’25) 7.02 1.89% -17.51%

India, Gas price ceiling – difficult areas 10.04 -1.18% 1.72%
(Apr-Sep’25)
3% -8%
GIXI (Gas index of India) price* 11.9 6.0% 54.6%
-6.1% 12.3%
Henry Hub 3.20 -0.6% -3.1%

Natural Gas, Europe 11.62

Liquefied Natural Gas, Japan 12.10

Source- EIA, PPAC, World Bank, IGX

*Prices are weighted average prices (excluding ceiling price gas)

Table 8: Gas price, GCV Basis Domestic Gas calculated Gas price ceiling – difficult areas
Period price in US$/MMBTU price in US$/MMBTU
8.27 12.12
1-31 May 2023 7.58 12.12
1-30 June 2023 7.48 12.12
1-31 July 2023 7.85 12.12
1-31 August 2023 8.60 12.12
1-30 September 2023 9.20 9.96
1-31 October 2023 9.12 9.96
1-30 November 2023

August 2025 Page | 38