The government today lowered the price of domestically produced natural gas to 5.02 per million British Thermal Units (mmBtu) from 5.6 dollar. This is the first ever reduction in the rates of the fuel. The new price will be effective from 1st of the next month. Natural gas price was raised from 4.2 per mmBtu to 5.61 dollar per mmBtu effective November last year. The drop is mainly because of slump in gas rates in the second half of 2014. As per the formula, the rates were to be revised every six months.