State-owned utility Mahanagar Gas on Friday announced another hike in the prices of piped natural gas (PNG) and compressed natural gas (CNG), citing rising costs and short supply of gas.
MGL has said that it is revising the retail price of CNG (compressed natural gas) upwards from 3.50/kg 89.50 and by domestic piped natural gas (PNG) From 1.50 per SCM 54 Effective from midnight today.
The last increase took effect in August when Mahanagar Gas Increase in retail price of CNG 6 per kg and by PNG 4/ SCM.
This is the second revision since October when the Center increased the price of domestically produced gas, supplied with an Administered Price Mechanism (APM), by 40 per cent for the second half of the financial year, following a 110 per cent spike. came up. April for the first half.
The price of CNG as on 1st April was 60/Kg & Piped kitchen gas was on 36/scm. The prices were so low after the state government reduced VAT on these fuels from 13.5 per cent to 3.50 per cent, which prompted MGL to cut the price of CNG. 6/kg and by PNG 3.50.
To compensate for the depreciation in the rupee as well as the increase in value,
On shortfall in supply of APM gas, MGL said supply has been cut by 10 per cent, forcing it to supply the fuel from outside at a much higher cost as the demand for gas is yet to subside.
MGL claimed that even at the revised level, CNG is about 42 per cent cheaper than petrol in the metropolis, while PNG is about 8 per cent cheaper than the existing LPG.
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