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India's gas pricing reforms: How it can significantly alter country's energy basket

If you have travelled in a cab in the past 12 months, chances are that at some point, one of the drivers may have tried renegotiating the fare as well as demanded extra money for switching on the air conditioner. And if you have a school-going kid, chances are that you are paying at least 20 per cent more than last year for her school transport. If you are in-charge of the household budget, you’ve most likely complained about rising fruit and vegetable prices and north-bound costs of piped cooking gas. Lastly, if you are an entrepreneur with an interest in fertilisers or power, you would have seen your fuel bills balloon. All this point to the fact that people were greatly peeved due to a nearly 80 per cent spike in natural gas prices. The world’s third-largest hydrocarbon consumer’s relationship with the commodity can be summed up in two words: It’s complicated.

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