India Gas Price Ceiling for the Period of Oct 2023 to March 2024

In a significant development aimed at fostering economic sustainability and energy affordability, India has recently issued a notification outlining the gas price ceiling for the upcoming period spanning from October 2023 to March 2024. Impressively, this announcement brings forth a noteworthy 17.82% reduction in the gas price, plummeting from the previous US$ 12.46 per million British thermal units (mmbtu) to an even more competitive US$ 9.96 per mmbtu, all meticulously calculated on a Gross Calorific Value (GCV) basis. This strategic measure not only reflects the nation’s commitment to balancing economic imperatives but also underscores a proactive approach towards ensuring accessible and cost-effective energy resources for its populace.