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Gas pricing: decision soon

The Government will soon take a final decision on its proposal to increase price of natural gas produced from the nominated blocks of Oil and Natural Gas Corp Ltd and Oil India Ltd and prices of which is regulated by the government.

business Updated: Mar 22, 2010 20:54 IST
HT Correspondent

The Government will soon take a final decision on its proposal to increase price of natural gas produced from the nominated blocks of Oil and Natural Gas Corp Ltd and Oil India Ltd and prices of which is regulated by the government.

Petroleum Secretary S. Sundareshan said, “We are in the final stages of decision making on raising prices of gas under the administered pricing mechanism.”

The price of regulated gas was last revised in 2005 and is currently at $1.79 per unit (Rs 82).

The petroleum ministry had mandated GAIL for appointing a consultant to study the feasibility of a uniform gas pricing.