‘Gas firms hurt by low prices fixed by govt.’

Natural gasoline manufacturing stays a loss-making proposition for many fields for the Indian upstream producers as government-dictated gasoline value stays at its lowest degree, ranking company ICRA has stated.

The home gasoline value notified at $1.79 per million British thermal unit for the six months starting April 1 stays the bottom because the establishment of the modified Rangarajan formulation.

Also, the ceiling on value for gasoline produced from deep-water, extremely deep-water, high-temperature and high-pressure fields has been fixed at $3.62 per million Btu for April-September 2021-22 which is 10.8% decrease than the ceiling for October-March 2020-21.

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