(ET)
The domestic natural gas price has risen 16 per cent to $2.89 per unit in line with international rates, after falling in every six-monthly revision since the government launched a formula-based pricing three years ago.
The price ceiling for gas from difficult fields has gone up 13 per cent to $6.30 per unit. The revised prices, calculated on gross calorific value basis, are valid for the October-March period.
The gas price for April-September was $2.48/unit, and and the ceiling for gas from difficult fields was $5.56/unit. A price rise would boost profits of producers such as Oil and Natural Gas Corp (ONGC) and Reliance Industries but hurt gas consuming households, drivers and factories.
Twice a year, the government publishes the price for natural gas from ordinary fields as well as the maximum rate producers can charge for gas from difficult fields such as those in deep sea and high-pressure high-temperature areas.
