India is poised to transition to a new domestic gas pricing regime based on crude oil prices starting 1 April, as suggested by the Kirit Parikh panel, with a person familiar with the development saying that the proposal may get cabinet approval this month.
In November, the Kirit Parikh committee made several recommendations to the petroleum ministry, including pricing locally produced natural gas at 10% of crude oil prices and implementing a floor price of $4 per mmBtu and a ceiling price of $6.5 per mmBtu.
"Efforts are on to get things cleared by April 1. The new rates are about to come. It is being tried that the new rates come on the basis of the formula suggested by the Parikh panel," the person cited above said, requesting anonymity.
This story is from the March 10, 2023 edition of Hindustan Times.
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This story is from the March 10, 2023 edition of Hindustan Times.
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