Big relief from inflation! CNG-PNG prices will be reduced by 10%, formula for fixing gas price changed

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Prime Minister Narendra Modi A meeting of the Union Cabinet was held under the chairmanship of, in which a decision was taken to give great relief to the common man. The Union Cabinet approved a new formula for fixing the price of natural gas. Due to which the price of CNG and pipe will be reduced by up to 10 percent.

Big decision taken on the price of cooking gas

After the cabinet meeting, Information and Broadcasting Minister Anurag Thakur said, fixed a maximum limit on the prices of CNG and pipe-supplied LPG. The Cabinet approved a base price of $4 per mmBtu for APM gas, with a cap of $6.5 per mmBtu.

Gas price will be fixed every month

Information and Broadcasting Minister Anurag Thakur told after a cabinet meeting that natural gas produced from conventional or old fields, known as APM gas, will now be linked to crude oil prices like surplus countries like the US, Canada and Russia. Earlier their pricing was done on the basis of gas prices. After this decision, from April 1, the price of APM gas will be 10 percent of the price of crude oil in the Indian basket. However, this price will not exceed $ 6.5 per million British thermal units (MMBtu). The current gas price is $8.57 per mmbtu. He told that the prices will be fixed every month, while till now they were reviewed twice a year.

#WATCH , Now, gas price, instead of international hub gas price, has been linked to imported crude. And price of domestic gas will be 10% of international price of Indian crude basket, to be notified monthly……: Union Minister Anurag Thakur pic.twitter.com/UN6i441I3N

— ANI (@ANI) April 6, 2023

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