Price Hike
Govt slightly increases domestic natural gas prices to $7.30/mBtu for Jan
This story was originally published at 10:04 IST on 1 January 2025
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MUMBAI – The government has slightly increased the price of domestically produced natural gas to $7.30 per million British thermal unit for January from $7.29 per mBtu in December, on a gross calorific value basis, the oil ministry's Petroleum Planning and Analysis Cell said in a notification issued Tuesday.
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 January, according to the notification.
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 domestic natural gas to be priced at 10% of the Indian crude oil basket price, and that these prices must be declared every month by the Petroleum Planning and Analysis Cell on the last day of the previous month. End
Reported by J. Navya Sruthi
Edited by Tanima Banerjee
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