The government on Monday set the price of domestic natural gas in May at $8.27 Metric Million British Thermal Unit, raising it from $7.92 per MMBtu.
The announcement will not impact domestic, commercial, and industrial consumers of natural gas as the final rates for consumers is capped at $6.5 per mmBtu. There will be no change in the retail price of piped natural gas (PNG) for households and compressed natural gas (CNG) used as an automobile fuel.
The latest prices are based on a new formula of gas prices being pegged 10 per cent of the international price of the Indian crude basket.
