Cabinet approves revised domestic gas pricing guidelines: The Union Cabinet approved revised domestic gas pricing guidelines and the price of natural gas will be 10 per cent of the monthly average of the Indian crude basket.
There will be monthly notification to ensure stable pricing in regime and provide adequate protection to producers from adverse market fluctuation.
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The guidelines will ensure a stable pricing regime for domestic gas consumers, provide adequate protection to producers from adverse market fluctuation and provide incentives for enhancing production.
The price of natural gas shall be 10% of the monthly average of Indian Crude Basket and shall be notified on a monthly basis. For the gas produced by ONGC & OIL from their nomination blocks, the Administered Price Mechanism (APM) price shall be subject to a floor and a ceiling.