New Delhi, April 7 -- Trading volume on the Indian Gas Exchange (IGX) fell 8% year-on-year in March to 4.8 metric million British thermal units (mmBtu) because of a decline in supplies amid the ongoing war in West Asia. Trading volume was down 11% month-on-month. GIXI, the benchmark price index of IGX, was Rs.998 per mmBtu for March, up 18% year-on-year, IGX said in a statement.

About 93% of the traded volume was domestic gas at the ceiling price ($8.9/MMBtu) allocated to priority sectors, while 7% was free-market or imported gas.

IGX offers delivery-based trade in eight different spot contracts such as intraday, day-ahead, daily, weekday, weekly, fortnightly and monthly (up to 12 months), balance of month, and two long-duration contrac...