New Delhi: A day after the central government slashed natural gas price by 16%, CNG and piped cooking gas rates in the national capital region on Thursday were cut by 80 paise and 70 paise respectively. Indraprastha Gas, which retails compressed natural gas to automobiles and piped cooking gas to households in the NCR, said the new rates would be effective from midnight today.
The government yesterday cut natural gas prices by 16 percent to USD 4.24 per unit for the six month period, beginning October 1. Natural gas prices, according to a formula approved by the government in October last year, will fall to USD 4.24 per million British thermal unit on net calorific value (NCV) basis from the current USD 5.50 per mmBtu.
On gross calorific value (GCV) basis, the new gas price for October 1 to March 31 would be USD 3.82 per mmBtu as compared to USD 4.66 currently, officials said.