Page 36 - Policy Economic Report - October 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

for the period 1st October, 2025 – 31st March, 2026 was notified as US$9.72/MMBTU on Gross
Calorific Value (GCV) basis as per notification dated 30th September 2025.
Figure 18: Global natural gas price trends ($/mmbtu)

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

Source - EIA, World Bank YoY
(%) change
Table 7: Gas price, September 2025 Price ($/MMBTU) MoM
Natural Gas (%) change -6.95%
-4.33%
India, Domestic gas price (Oct’25) 6.96 -0.43%
-9%
India, Gas price ceiling – difficult areas 9.72 -3.19% 30.3%
(Oct-Nov’25) -5.6%
3% -9.6%
GIXI (Gas index of India) price* 11.8 2.1%
-0.3%
Henry Hub 2.97 -0.6%

Natural Gas, Europe 11.12

Liquefied Natural Gas, Japan 11.72

Source - EIA, PPAC, World Bank, IGX

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

October 2025 Page | 35