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The average price of a single year of gas in India dropped by $4, from $2.85 to $2,974, according to data released on Monday by the National Sample Survey Organisation (NSSO).

The figures for the previous three years were released by the NSSO last year.

The NSSA said prices for natural gas were at their lowest level in three years.

It said prices in the next few months would be revised upward.

The agency said gas prices were already low for most states in 2018 and 2019 and they were expected to remain that way. 

NSSA data shows prices have been falling steadily in recent years, especially in the case of the petrol sector, which has seen a slowdown in production and the price of oil also fallen in recent months. 

In 2019, the average retail price of gas fell by 5.2% from $1,834.23 to $1.932, while the average wholesale price was down by 7.4% from an all-time high of $2;891.75 to $3.061.

The average wholesale cost of electricity rose by 6.5% from a year earlier to $0.976 per unit, while that of electricity from biomass and nuclear increased by 5% to $.88.50. 

India has been grappling with a chronic energy shortage for the past three years, which worsened in 2018 when the country’s peak electricity demand was exceeded.

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