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Gas price hike mooted
Published on 14 Nov. 2009 12:47 AM IST
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The petroleum ministry has started inter-ministerial consultations to hike the regulated price of gas sold by the state-run Oil and Natural Gas Corp (ONGC) and Oil India Ltd. According to sources, the petroleum ministry has referred to other ministries for their views the long-standing demand of ONGC and Oil India for raising gas price from the current $1.9 per million British thermal unit. ONGC chief R.S. Sharma Friday told a business channel that there would be an increase of Rs.2,000 crore in the company’s revenues if the government approves a gas price hike of 31 percent. But, he cautioned that it was not yet a done deal.

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