India maintains price of gas from old fields at $6.5/mmBtu for May
The domestic natural gas price will remain steady at $6.5 per mmbtu for the month of May, according to an oil ministry notification.
The domestic price is revised every month after the last month’s Cabinet decision linked the gas price for a month to the India crude oil basket price of the previous month. The revised rate, calculated as 10% of the crude price, is $8.27 per mmbtu for the month of May. But since a cap of $6.5 per mmbtu applies to the domestic gas, the effective price would remain as it was in April.
