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What is the story about?
Shares of Oil and Natural Gas Corporation Ltd. (ONGC) and Oil India Ltd. are in focus on Wednesday, April 1, after the Centre's notification of domestic natural gas price for April 2026.
The Centre has notified the domestic natural gas price for April to be $10.76 metric million British thermal units (MMBTU) on a gross calorific value (GCV) basis.
For natural gas produced by the nominated fields of ONGC, Oil India, the administered price mechanism (APM) price will be capped at $7/MMBTU for April 2026.
In March, the natural gas price were set at $6.81 MMBTU and capped at $6.75/MMBTU for the nominated fields of ONGC and Oil India.
The price cap on difficult fields for the April-September period has been fixed at $8.9 per MMbtu.
The Centre's latest notification is for the domestic natural gas price is valid up to April 30, 2026.
The government notification came just as US President Donald Trump signalled at a possible conclusion to the Iran war soon. The month-long Iran-US-Israel war in West Asia has resulted in an energy crisis, supply issues as Iran blocked the Strait of Hormuz. This has resulted in a global market sell-off in the past month and a sharp rise in commodity prices including oil and gold.
On another note, the aviation turbine fuel (ATF) price for April has been increased by 115% to ₹2.07 lakh/KL to ₹96,000/KL in March. The price of a 19 kg LPG gas cylinder has also been increased by ₹195.5 in Delhi and by ₹218 in Kolkata, with effect from April 1.
Shares of ONGC ended the previous session 1.1% up at ₹284.9 apiece, while Oil India shares declined 1.5% at ₹471 apiece. While ONGC shares have rising 1% in the past month, Oil India shares have declined 3.5%.
Also Read: Bharti Airtel shares in focus after $1 billion Nxtra deal, capacity expansion plans
The Centre has notified the domestic natural gas price for April to be $10.76 metric million British thermal units (MMBTU) on a gross calorific value (GCV) basis.
For natural gas produced by the nominated fields of ONGC, Oil India, the administered price mechanism (APM) price will be capped at $7/MMBTU for April 2026.
In March, the natural gas price were set at $6.81 MMBTU and capped at $6.75/MMBTU for the nominated fields of ONGC and Oil India.
The price cap on difficult fields for the April-September period has been fixed at $8.9 per MMbtu.
The Centre's latest notification is for the domestic natural gas price is valid up to April 30, 2026.
The government notification came just as US President Donald Trump signalled at a possible conclusion to the Iran war soon. The month-long Iran-US-Israel war in West Asia has resulted in an energy crisis, supply issues as Iran blocked the Strait of Hormuz. This has resulted in a global market sell-off in the past month and a sharp rise in commodity prices including oil and gold.
On another note, the aviation turbine fuel (ATF) price for April has been increased by 115% to ₹2.07 lakh/KL to ₹96,000/KL in March. The price of a 19 kg LPG gas cylinder has also been increased by ₹195.5 in Delhi and by ₹218 in Kolkata, with effect from April 1.
Shares of ONGC ended the previous session 1.1% up at ₹284.9 apiece, while Oil India shares declined 1.5% at ₹471 apiece. While ONGC shares have rising 1% in the past month, Oil India shares have declined 3.5%.
Also Read: Bharti Airtel shares in focus after $1 billion Nxtra deal, capacity expansion plans
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