Why pay a higher price if RIL says cost of gas is $2.74/mbtu?

In a disclosure that puts a question mark over the massive hike proposed in the price of gas from April 2014, the Petroleum Ministry has told the Standing Committee on Finance that the cost of production of gas in the KG D6 block, including levies, works out to $2.74 mbtu based on the financial statement of Mukesh Ambani-owned Reliance Industries Limited (RIL) for the year 2011-12.

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