Domestic natural gas price hike in India: The government on Monday hiked the price of domestic natural gas to $7.85 per metric million British thermal units (MMBtu) for August from $7.48 per MMBtu for the previous month.
According to a notification by the Petroleum Planning and Analysis Cell, the gas produced from the nomination fields of Oil and Natural Gas Corp. (ONGC and Oil India will remain unchanged and have a ceiling price of $6.50/MMBtu. The new prices took effect from August 1. The revision was on the basis of the new price formula.