New pricing formula to help city gas distributors expand margins

April 4, 2023

The Union government has provisionally kept the domestic gas prices unchanged at $8.58 per million British thermal units (mmBtu) while it is considering a potential change in the pricing formula. The current formula is based on the trailing 12-month average prices of the global gas benchmarks of the US, Russia, Europe and Canada. Based on this, the domestic gas price could be closer to $11 per mmBtu.

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