Tuesday, 31 March 2015 17:12
NEW DELHI: Locally produced gas in India will cost 8 percent less during April-September, the government said in a statement on Tuesday, due to a decline in global prices.
India in November introduced a new gas-pricing formula and raised the local prices by a third. The formula links the prices of locally produced gas with those in the United States, Canada, UK and Russia.
Prices will be cut to $ 4.66 per million British thermal units (mmBtu) in the first half of next fiscal year from April on gross heat value basis.
It will cost about $ 5.18/mmbtu on a net heat value basis compared with $ 5.61/mBtu now.
Copyright Reuters, 2015
