Govt orders status quo on natural gas prices for 3 months - Financial Express

The various options before the government included applying the Rangarajan formula unconditionally from July 1. (Reuters)

SummaryGovt orders status quo on natural gas prices for 3 months

The Narendra Modi government today postponed revision in natural gas prices by three months pending a comprehensive review.

Oil Minister Dharmendra Pradhan said the current rate of USD 4.2 per million thermal units will continue till September end.

The Centre was expected to decide on implementation of new gas pricing regime in the next two days. A series of discussions have been held between the Prime Minister's office, petroleum minister Dharmendra Pradhan and finance minister Arun Jaitley since Friday.

The government was tight-lipped on the likely proposals it was contemplating to implement. A senior petroleum ministry official, when asked on when the decision is expected, said, �Wait for 48 hours.�