Page 50 - Policy Economic Report -August 2026
P. 50
POLICY AND ECONOMIC
OIL & GAS MARKET
Value (GCV) basis. Prices were further revised for the period 1st October, 2025 – 31st March, 2026
was notified as US$9.72/MMBTU on Gross Calorific Value (GCV) basis as per notification dated 30th
September 2025. As per notification dated 31st March 2026, gas prices were further revised for the
period 1st April 2026 – 30th September 2026 and was notified as US$ 8.90/MMBTU on Gross Calorific
Value (GCV) basis.
Figure 22: Global natural gas price trends ($/mmbtu)
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Domestic gas price Henry Hub Natural Gas Spot Price Natural gas, Europe Spot LNG price, Japan
Source: EIA, World Bank
Table 8: Gas price, July 2026
Natural Gas Price MoM YoY
($/MMBTU) (%) change (%) change
India, Domestic gas price (Aug’26) 7.86 -9.97% 11.97%
India, Gas price ceiling – difficult 8.90 -8.44% -11.35%
areas (Apr’26-Sep’26)
GIXI (Gas index of India) price* 19.17 4% 80%
Henry Hub 2.89 -8.3% -9.7%
Natural Gas, Europe 18.06 19.1% 55.4%
Liquefied Natural Gas, Japan 11.80 0.1% -0.9%
Source: EIA, PPAC, World Bank, IGX
*Prices are weighted average prices (data excluding ceiling price gas, LNG & LDC)
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