The price of the bulk of local production to an Indian crude basket with a cap of $6.50 per million British thermal units (mmBtu) The cap is expected to shield consumers from global fluctuations .
According to sources, India's natural gas price review committee is expected to favor linking the price of the bulk of local production to an Indian crude basket with a cap of $6.50 per million British thermal units (mmBtu), to shield consumers from global fluctuations after state-set gas prices of gas from old fields and a ceiling price for production from difficult blocks hit a record high in September.