• Domestic natural gas price to remain steady at $6.5 per mmbtu in June: Oil ministry

    The domestic natural gas price will remain steady at $6.5 per mmbtu in June, according to an oil ministry notification.

    Domestic natural gas price is determined every month as 10% of the average price of the India basket crude for the previous month. The gas price, as per the formula, fell to $7.58 per mmbtu for June from $8.27 in May. But since the gas price must stay within a Cabinet-determined band of $4-$6.5 per mmbtu, the effective price for June will not change.

    This price band applies only to gas produced by the fields operated by Oil and Natural Gas Corp and Oil India.

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