New Delhi. The central government has approved a new formula for fixing the price of natural gas. For this, a major change has also been made in the 2014 guideline. The new formula will bring major relief to the consumers of Piped Natural Gas (PNG) and Compressed Natural Gas (CNG). The price of gas was linked to the Indian basket of crude in the international market. The decision was taken in the cabinet meeting chaired by Prime Minister Narendra Modi on Thursday.