The price of CNG will be revised to Rs 51.99/kg in Mumbai and surrounding areas
Mahanagar Gas (MGL) will hike prices of Compressed Natural Gas (CNG) and Domestic Piped Natural Gas (PNG) in Mumbai and the surrounding area by 32 paise/kg and 23 paise/Standard Cubic Meter, respectively, with effect from July 1.
The price of CNG will be hiked to Rs 51.99/kg. The cost of domestic piped natural gas (PNG) will be revised to Rs 31.79/scm (slab 1) and Rs. 37.39/scm (slab 2).
The company cited an increase in tariff at its Trombay RCF and Uran-Thal-Usar pipelines for the increase in the base prices of gas.
The hike in the CNG price is expected to have a slight impact on the running costs of autos and taxis, raising it by 1 paise/km and 2 paise/km, respectively.
"Even after the above revision, MGL’s CNG still continues to be a very attractive proposition and offers savings of about 51 percent and 22 percent as compared to petrol and diesel respectively at current price levels in Mumbai," the company said in a statement.MGL last raised the cost of CNG and domestic PNG on April 4.Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.