Domestic gas price to be raised by 60% from Oct: ONGC's Subhash Kumar

India’s natural gas producers expect some cheer as the domestic gas price is set to rise after having fallen for two consecutive years. “The price of domestically produced natural gas will increase by 50-60 per cent for the October 2021-March 2022 period,” ONGC Chairman and Managing Director Subhash Kumar said. 

This will offer relief to exploration companies that have found it hard to sustain profitability in the face of low domestic price. At present, the domestic gas price is $1.79 per mBtu (million British thermal units). The maximum sale price that is allowed for gas produced from high pressure high