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Representative image. Credit: Reuters photo
The government on Thursday more than doubled the price of domestically produced natural gas for the six months beginning April 1 on the back of a spike in global energy rates.
The price of gas from regulated fields of state-owned ONGC and Oil India Ltd will rise to a record $6.10 per million British thermal unit from the current $2.90, according to a notification issued by the oil ministry's Petroleum Planning and Analysis Cell (PPAC).
The rate paid for difficult fields like deepwater will rise to $9.92 for April-September from $6.13 per mmBtu, it said.
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