Govt raises domestic natural gas price to $8.51/mBtu for Aug
This story was originally published at 20:03 IST on 31 July 2024
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MUMBAI – The government has increased the price of domestically produced natural gas to $8.51 per mBtu for August from $8.24 per mBtu in July on a gross calorific value basis, the oil ministry's Petroleum Planning and Analysis Cell said in a notification.
The natural gas produced by Oil and Natural Gas Corp Ltd and Oil India Ltd will be subject to a ceiling of $6.50 per mBtu on a gross calorific value basis for August, according to the notification issued today.
In April 2023, the petroleum and natural gas ministry amended the New Domestic Natural Gas Pricing Guidelines, 2014, to integrate several recommendations of the Kirit Parikh committee on gas pricing. The revised guidelines mandate that domestic natural gas prices be 10% of the Indian crude oil basket price and be declared every month by the Petroleum Planning and Analysis Cell on the last day of the month. End
US$1 = 83.72 rupees
Reported by Taniva Singha Roy
Edited by Rajeev Pai
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