MUMBAI: After a massive 62 per cent hike in the prices of domestically produced gas announced by the Center last week, Mahanagar Gas Increase in retail price of compressed natural gas on Monday (CNG) and piped natural gas (png2 each with immediate effect.
In view of the steep increase in supply side cost, the company is bound to increase the base price of CNG by Rs 20 per kg and domestic PNG by Rs 2 per scm, MGL said in a statement.
Noting that the price of re-gasified liquefied natural gas is also now at historic highs, MGL said these combinations have resulted in a significant increase in the cost of procuring gas.
This has forced the firm to pass the price revision in a progressive manner as the rate hike from the supply side is too large to be passed in one go.
Accordingly, the revised distributed price inclusive of all taxes of CNG and domestic PNG in and around Mumbai will be Rs 54.57/kg and Rs 32.67/scm for Slab 1 customers and Rs 38.27/scm for Slab 2 customers respectively.
Even at the new prices, CNG is 65 per cent cheaper than petrol and 44 per cent cheaper than diesel. Domestic PNG is 34 per cent cheaper than LPG.
On October 1, the center raised the price of domestically produced natural gas to $2.90 per million British thermal unit from farms and to $6.13 per mmBtu for gas produced from hard-to-reach areas such as the deep sea.
In view of the steep increase in supply side cost, the company is bound to increase the base price of CNG by Rs 20 per kg and domestic PNG by Rs 2 per scm, MGL said in a statement.
Noting that the price of re-gasified liquefied natural gas is also now at historic highs, MGL said these combinations have resulted in a significant increase in the cost of procuring gas.
This has forced the firm to pass the price revision in a progressive manner as the rate hike from the supply side is too large to be passed in one go.
Accordingly, the revised distributed price inclusive of all taxes of CNG and domestic PNG in and around Mumbai will be Rs 54.57/kg and Rs 32.67/scm for Slab 1 customers and Rs 38.27/scm for Slab 2 customers respectively.
Even at the new prices, CNG is 65 per cent cheaper than petrol and 44 per cent cheaper than diesel. Domestic PNG is 34 per cent cheaper than LPG.
On October 1, the center raised the price of domestically produced natural gas to $2.90 per million British thermal unit from farms and to $6.13 per mmBtu for gas produced from hard-to-reach areas such as the deep sea.
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