The government on Friday announced a natural gas price of USD 7.92 per unit for the remainder of April according to the just approved new pricing formula, but rates for consumers have been capped at USD 6.5 per unit.
According to an order of the 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 had while changing the pricing formula capped the rates at USD 6.5 per mmBtu for two years ending March 31, 2025.
