Maverick 
The government of India on Friday hiked the price of Natural gas by 40%.
In the notification released by the Indian government, gas produced from old fields has been hiked to USD 8.57/mbtu from USD 6.1/mbtu, which is around 40% above the earlier price. Similarly, gas produced from new fields has been hiked to USD 12.6/mbtu from USD 9.92/mbtu, which is around 27% above the earlier price.
Gas prices are revised every six months based on rates prevalent in the gas surplus nations in one year with a lag of one quarter. The current price calculation is based on the average price from July 2021 to June 2022.
