Govt fixes gas price for April at ₹648, rates capped at ₹532 for consumers

The Union Cabinet while changing the pricing formula capped the rates at USD 6.5 per million British thermal unit.

The government on Friday announced natural gas price of USD 7.92 per mmBtu for the remainder of April according to the new pricing formula but rates for consumers have been capped at USD 6.5 per mmBtu.

"For the gas produced by ONGC/OIL from their nomination fields, the price shall be subject to ceiling of USD 6.5 per mmBtu," the order said. (HT ARCHIVES)

According to an order of Oil Ministry's Petroleum Planning and Analysis Cell, the price of natural gas for April 8 to April 30 period comes to USD 7.92 per million British thermal unit going by the new indexation of pricing it at 10 per cent of imported cost of crude oil.

However, the Union Cabinet while changing the pricing formula capped the rates at USD 6.5 per million British thermal unit.

"For the gas produced by ONGC/OIL from their nomination fields, the price shall be subject to ceiling of USD 6.5 per mmBtu," the order said.