Business Today

Govt slashes natural gas prices by 12.5% for October-March period

Lower natural gas prices mean reduced costs for gas for fertilisers, automobiles and households. They will also cut earnings for state-owned Oil and Natural Gas Corp Ltd (ONGC) and Oil India Ltd.

twitter-logo Reuters        Last Updated: October 1, 2019  | 12:27 IST
Govt slashes natural gas prices by 12.5% for October-March period
Prices of locally produced gas has been cut for the October 2019-March 2020 period by 12.5% from the previous six months to $3.23 per million metric British thermal units (mmBtu).

Prices of locally produced gas has been cut for the October 2019-March 2020 period by 12.5% from the previous six months to $3.23 per million metric British thermal units (mmBtu), the government said in a statement.

It has also set the ceiling price for gas produced from more challenging fields at $8.43 per mmBtu for the same period, down about 9.5%, the statement showed.

Also Read: Output of eight core sectors declines by 0.5% in August

The prices will be applicable on gross heat value basis.

Lower natural gas prices mean reduced costs for gas for fertilisers, automobiles and households. They will also cut earnings for state-owned Oil and Natural Gas Corp Ltd (ONGC) and Oil India Ltd.

Also Read: Petrol touches Rs 80 per litre in Mumbai; check out latest fuel prices across major cities

Also Read: LPG supply in India takes a hit after drone attack on Saudi Aramco facilities

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close