MGL hikes CNG, PNG prices by Rs 2 each
MUMBAI: Following the steep 62 per cent hike in prices of domestically produced gas announced by the Centre last week, Mahanagar Gas 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.
Noting that the re-gasified liquefied natural gas price is also at a historical high now, MGL said these combinations have resulted in a significant increase in the cost of gas being procured by it.
