The government has fixed natural gas price at 4.66 per million British Thermal Unit (mm Btu) on gross calorific value basis for first six month of next fiscal beginning tomorrow. The new price is lower by about 8 per cent form the price of 5.05 dollar per mmBtu. The move will lower electricity and fertiliser costs. It will also lead to reduction in CNG and domestic Piped Natural Gas,PNG.Oil Ministry's pricing cell, PPAC said, on net calorific value basis, the rate of the natural gas would be 5.18 dollar as compared to 5.61 dollar per mmBtu currently. The new rates have been fixed for April- September period as per the formula approved by the government in October last year. This is the first reduction in price of natural gas in the country. In a statement , Indraprastha Gas Limited said that it is currently working out its impact on retail prices of CNG and PNG. It said, the revised prices applicable in Delhi, Noida , Greater Noida and Ghaziabad will be announced soon.