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Business News/ Industry / Energy/ Govt cuts April-September local gas prices by 20%

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Govt cuts April-September local gas prices by 20%

1 min read 31 Mar 2016, 11:36 AM IST

Nidhi Verma

Prices will be cut to $3.06 mmBtu in the first half of the next fiscal year on gross heat value basis

It will cost about $3.4 per mmBtu on a net heat value basis compared with $4.24/mmBtu in October-March. Photo: Bloomberg

Locally produced gas in India will cost about 20% less during April-September compared with the previous six months, a source with knowledge of the matter said on Thursday, due to a fall in global prices.

Prices will be cut to $3.06 per million British thermal units (mmBtu) in the first half of the next fiscal year on gross heat value basis, the source, who is not authorised to speak to the media, told Reuters.

It will cost about $3.4 per mmBtu on a net heat value basis compared with $4.24/mmBtu in October-March, the source said. Reuters

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Published: 31 Mar 2016, 10:37 AM IST

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