The Government on Monday cut domestic natural gas price for the first time in two-and-a-half years but rates for gas produced from difficult fields such as Reliance Industries’ under-development fields in KG-D6 block are still at almost the same level as the one fixed during the Congress-led UPA regime.
The price of most of the natural gas produced by state-owned ONGC and Oil India Ltd, which account for bulk of India’s existing gas output, was cut to $3.23 per million British thermal unit for the six-month period beginning October 1, from $3.69 as of now, according to the oil ministry’s Petroleum Planning and Analysis Cell (PPAC).
