New Delhi, Mar 23: The prices of compressed natural gas and piped natural gas are set to be increased next month as the benchmark price of the product is slated to be increased during the by-annual revision due next month.Also Read - Pakistan Announce Squad For ODI Series Against West Indies; Shadab Returns, Key Players Left Out

Sources told TOI that the price might be hiked to $3.06 per unit from the current $2.89 per unit. With the price hike, the cost of urea could be increased, however, the prices of electricity might remain largely unaffected as only 8 per cent electricity is generated using gas-fed plants. However, people who use CNG as vehicles, or PNG as cooking gas, might have to shell out more money. Also Read - IPL 2022 Playoffs: Ex-RCB Captain Predicts Yuzi Chahal-Ravi Ashwin Will Give Advantage to RR During Qualifier 1 vs GT

The increase in the prices will greatly benefits private and public players in the gas market. The benchmark price was raised for the first time in the last three years to $2.89 per unit in October, 2017. This was after the prices were reduced in last five round. Also Read - CBI Is Hiring, Last Date To Apply May 31; Details Inside