The government on Friday announced a natural gas price of $7.92 per unit for the remainder of April according to the just-approved new pricing formula, but rates for consumers have been capped at $6.5 per unit.
According to an order of the Oil Ministry’s Petroleum Planning and Analysis Cell, the price of natural gas for April 8 to April 30 period comes to $7.92 per million British thermal unit going by the new indexation of pricing it at 10% of imported cost of crude oil.
However, the Union Cabinet had while changing the pricing formula capped the rates at $6.5 per mmBtu for two years ending March 31, 2025.
