New Delhi: The government on Tuesday notified the domestic natural gas price at $6.96 per million British thermal units (MMBTU) on Gross Calorific Value (GCV) basis for October 1–31, 2025.
According to the Petroleum Planning and Analysis Cell (PPAC), the price of gas produced by state-run ONGC and Oil India Ltd (OIL) from nomination fields will remain capped at $6.75/MMBTU on GCV basis for the same period.
The price revision follows the formula announced by the Ministry of Petroleum and Natural Gas in April 2023, which links domestic gas rates to global benchmarks while imposing a ceiling for production from legacy nomination fields.
The 2023 reforms were based on the recommendations of the Kirit Parikh committee, aimed at ensuring a stable pricing regime for producers while shielding consumers from sharp fluctuations. The new formula replaced the old system of using a weighted average of international hub prices with an indexation to imported crude oil prices, with a ceiling of $6.5/MMBTU and a floor of $4/MMBTU for nomination fields.
