Maharashtra’s MGL hikes gas prices for the third time in six weeks
Highlight
- The basic prices of CNG for MMR have been increased by Rs 3.06 per kg and for domestic PNG by Rs 2.26 per scm.
- MGL hiked rates twice in the first week of October ahead of the festive season
- This hike will impact the budget of around 1.60 million PNG consumers and over 8 lakh CNG customers.
An official said that for the third time in barely six weeks, Mahanagar Gas Limited has hiked the prices of CNG and PNG from Friday midnight (November 26/27).
The basic prices of CNG for Mumbai Metropolitan Region have been increased by Rs 3.06/kg and that of domestic PNG by Rs 2.26/scm.
Accordingly, the revised prices of CNG used by vehicles will be increased from Rs 57.54 per kg to Rs 61.50 per kg, and domestic use PNG will be Rs 36.50/scm, an MGL spokesperson said.
The latest hike in just six weeks after October 14 will impact the budgets of nearly 1.60 million PNG consumers and more than 800,000 CNG customers using gas-powered vehicles.
MGL had hiked rates twice in the first week of October, ahead of the festive season.
This time, it has justified the price hike to meet the shortfall in domestic gas allocation, for which it is buying CNG and higher priced PNG (imported RLNG) to meet the growing number of domestic customers.
Besides, due to steep rise in natural gas prices in the international market, MGL’s input gas cost has also gone up, the spokesperson said.
In order to partially offset the increase in the input cost of gas, MGL has announced the latest price hike.
However, MGL said that despite the revised rates, MGL’s CNG offers savings of around 62 per cent and 35 per cent, respectively, compared to petrol and diesel, and PNG users save 27 per cent compared to domestic LPG prices.
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