New Delhi: The Union Cabinet on Thursday authorized a brand new system for the pricing of pure gasoline and imposed a cap or ceiling value to rein in runaway costs of CNG and piped cooking gasoline. Natural gasoline produced from legacy or outdated fields, often called APM gasoline, will now be listed to crude oil value as an alternative of pricing it based mostly on gasoline costs in surplus nations such because the US, Canada, and Russia, Union I&B Minister Anurag Thakur informed reporters after a gathering of the Cabinet.
Union Cabinet approves revised home gasoline pricing tips
value of pure gasoline to be 10% of the month-to-month common of Indian Crude Basket, to be notified month-to-month
Move to make sure secure pricing within the regime and supply sufficient safety to producers from opposed market… pic.twitter.com/zEQpEpqbcx
— ANI (@ANI) April 6, 2023
From April 1, APM gasoline might be priced at 10 per cent of the value of a basket of crude oil that India imports (Indian basket of crude oil). The charge arrived at nonetheless might be capped at USD 6.5 per million British thermal models as in opposition to the present gasoline value of USD 8.57 per mmBtu.
The value arrived at can even have a flooring of USD 4 per mmBtu. Rates might be determined each month as an alternative of the present apply of bi-annual revision, he stated.
