Domestic gas price rises over two-fold
The government on Thursday hiked the price of the majority of domestically produced natural gas by about 110 per cent on the back of rising international gas prices.
The price of natural gas produced from fields awarded to state-owned ONGC and Oil India regulated under the Administered Price Mechanism (APM) was hiked to $6.1 per million British thermal unit (mmBtu) for the April-September period, up from $2.9 per mmBTu currently, according to the Petroleum Planning and Analysis Cell (PPAC).
The hike, which will come into effect on Friday, will likely lead to a rise in prices of CNG and piped natural gas.
