Mahanagar Gas hikes CNG, PNG prices by Rs 2 each

Following the steep 62 per cent hike in prices of domestically produced gas announced by the Centre last week, Mahanagar Gas NSE 0.09 % on Monday increased the retail price of compressed natural gas (CNG) and piped natural gas (PNG) by Rs 2 each with immediate effect. Given the massive increase in supply side cost, the company is constrained to increase the base price of CNG by Rs 20/kg and domestic PNG by Rs 2/SCM in and around Mumbai, MGL said in a statement.