Amid rising concerns over skyrocketing global natural gas prices jacking up energy and industrial costs, and derailing the efforts to contain inflation, the Centre has begun a review of the pricing formula for domestically-produced gas.
The Ministry of Petroleum and Natural Gas has set up a committee under noted energy expert Kirit Parikh to review the current gas pricing formula, Reuters reported, adding that the government order in this regard spoke of the need to ensure “a fair price to the end consumer”. Though the committee has been asked to submit the report by the end of this month, its inputs won’t be used for the next six monthly revision of the domestic gas prices for the October 2022-March 2023 period.
