The government on Friday left the price of APM gas, used to make CNG and fertilisers, unchanged pending a Cabinet decision on capping rates, according to an official order.
While the price of natural gas from legacy or old fields was left unchanged at $8.57 per million British thermal units, the rate for the fuel from newer but difficult fields such as one operated by Reliance Industries and its partner bp in the KG basin was cut marginally to $12.12 per mmBtu.
With Russia’s war in Ukraine pushing global energy prices to record levels, the government had last year constituted an expert committee to rework the basis on which rates are fixed in the country.
