Domestic natural gas price to remain unchanged at $6.5 per mmBtu in July

In the new regime, domestic gas pricing is linked with the imported crude pricing and would be at 10 percent of the Indian crude basket

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Domestic natural gas price will continue to remain at $6.5 per mmBtu (million metric British thermal unit) in July 2023, according to a notification by the Oil Ministry.

Domestic gas prices were at $6.5 per mmBtu in June as well.

The domestic gas price notified by the government applies to the natural gas produced from the legacy and oil fields of Oil and Natural Gas Corporation Ltd (ONGC) and Oil India Limited (OIL).

For July, domestic natural gas price stood at $7.48 per mmBtu, as per the formula used for calculation of gas prices. However, according to the new gas pricing mechanism, domestic gas prices are now subject to a floor and ceiling of $4 per mmBtu and $6.5 per mmBtu, respectively.

In the new regime, domestic gas pricing is linked with the imported crude pricing and would be at 10 percent of the Indian crude basket. Gas prices are revised on a monthly basis.

This comes after a government-appointed panel led by energy expert and former Planning Commission (since renamed NITI Aayog) member Kirit Parikh recommended several changes in gas pricing to immune domestic players and consumers from the volatility in global markets.

The ceiling for natural gas prices will be kept in force for the next two years.