Govt more than doubles price of locally produced gas

NEW DELHI: The Centre on Thursday more than doubled the price of natural gas, an official statement by the Petroleum Planning and Analysis Cell (PPAC) said.
Price of locally produced gas from old fields has been raised to a record high of $6.1 per million metric British thermal units (mmBtu) for the period April-September 2022.
The price has been raised from $2.90/mmBtu till now.
The hike comes on the back of rising global energy prices, in wake of the ongoing war between Russia and Ukraine.
With this, regulated fields of state-owned oil firms like ONGC, Oil India Ltd and Reliance will receive record rates for their produce, thereby boosting earnings.
In a separate release, the PPAC raised ceiling price for gas produced from more challenging field to $9.92 per mmBtu for April-September from $6.13 per mmBtu.

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