New Delhi. The central government has approved a new formula for fixing the price of natural gas. For this, a major change has also been made in the 2014 guideline.
The new formula will bring major relief to the consumers of Piped Natural Gas (PNG) and Compressed Natural Gas (CNG). The price of gas was linked to the Indian basket of crude in the international market. The decision was taken in the cabinet meeting chaired by Prime Minister Narendra Modi on Thursday.
Price will fall by 10 percent
Changes in the process of fixing domestic gas prices will be made from Saturday. Due to this, the price of PNG can be reduced by about 10% and the price of CNG by 6% to 9%. It is estimated that CNG will become cheaper by Rs 5 to Rs 8 per kg and PNG by Rs 5 to Rs 6.
