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India cuts Oct-March local gas prices by 18 pct to $2.50/ mmbtu
September 30, 2016 / 11:21 AM / a year ago

India cuts Oct-March local gas prices by 18 pct to $2.50/ mmbtu

NEW DELHI, Sept 30 (Reuters) - India has cut its locally produced gas prices by 18.3 percent to $2.50 per million British thermal units (mmBtu) for October-March period, compared with the previous six months, a government website said, in line with falling global prices.

India has set the ceiling price for gas to be produced from difficult fields at $5.30/mmBtu for the six months to March compared to $6.61/ mmBtu for the April-September period, the Petroleum Planning and Analysis Cell of the federal oil ministry showed on Friday.

The prices will be applicable on gross heat value basis. (Reporting by Nidhi Verma; Editing by Malini Menon)

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