Kirit Parikh committee to review local gas pricing formula to tame inflation

India has set up a panel to review the pricing formula for locally produced gas to ensure “fair price to the end consumer”, according to a government order seen by Reuters, a move aimed at lowering inflation and boosting use of the cleaner fuel.

India links local gas prices to a formula tied to global benchmarks, including Henry Hub, Alberta gas, NBP and Russian gas with a lag of one quarter.