The 40 per cent hike in gas prices under the administered price mechanism (APM) advised by the Kirit Parekh committee last week from $ 6.26/ Metric Million British Thermal Unit (mmbtu) to $8.57/mmbtu, and 26.26 per cent jump in high pressure, high temperature (HPHT) gas price to $12.5/mmbtu will have a far reaching implication. While the cost of producing fertilisers, power, and ceramic tiles etc. will go up, select upstream companies, analysts said, will reap benefits of the move. However, the proposal will need Cabinet approval.
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First Published: Mon, October 03 2022. 10:42 IST