Page 35 - Policy Economic Report - November 2024
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POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
Figure 13: Global natural gas price trends ($/mmbtu)
125
115
105
95
85
75
65
55
45
35
25
Brent Spot Price ($/bbl) WTI Spot Price ($/bbl) Dubai spot price ($/bbl)
Source- EIA, World Bank
Table 7: Gas price, October 2024 Price ($/MMBTU) MoM YoY
Natural Gas (%) change (%) change
India, Domestic gas price (Nov’24) 7.53 0.67% -17.43
India, Gas price ceiling – difficult areas 10.16 2.94% 2.01%
(Oct’24-Mar’25)
-4.0% 8%
GIXI (Gas index of India) price* 13.07 -3.5% -26.2%
Henry Hub 2.20 9.7% -11.3%
-0.5% 2.3%
Natural Gas, Europe 12.92
Liquefied Natural Gas, Japan 12.91
Source- EIA, PPAC, World Bank, IGX
*Prices are weighted average prices (excluding ceiling price gas)
Table 8: Gas price, GCV Basis Domestic Gas calculated Gas price ceiling – difficult areas
Period price in US$/MMBTU price in US$/MMBTU
8.27
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 12.12
1-31 October 2023 9.12 9.96
1-30 November 2023 9.96
November 2024 Page | 34
