The price of compressed natural gas (CNG) has gone up by 4% to ₹51. 57 per kilogrammes (kg) while the price of piped natural gas (PNG) has gone up by 7.2% to ₹31.53/SCM (Slab 1) and by 6% ₹37.13/SCM (Slab 2) respectively with effect from April 4, as the city gas distributor, Mahanagar Gas Limited (MGL) increased the prices.
“In view of an increase in MGL’s gas costs due to the recent increase in ‘Domestic Natural Gas (APM) Price’ from $ 3.36 / MMBTU to $ 3.69 /MMBTU, and other costs, MGL is constrained to increase the basic price of CNG by Rs. 1.51/Kg and Domestic PNG by ₹1.88/ SCM in and around Mumbai, effective from midnight of April 3, 2019 / early morning of April 4, 2019,” said a MGL statement.
Accordingly, revised delivered prices inclusive of all taxes of CNG and Domestic PNG in and around Mumbai will be ₹51.57/Kg and ₹31.53/SCM (Slab 1) and ₹37.13/SCM (Slab 2) respectively, in place of earlier ₹49.61/Kg and ₹29.40/SCM (Slab 1) and ₹35.00/SCM (Slab 2) respectively.
MGL supplies PNG to over 10 lakh households and CNG to over 6.5 lakh vehicles in Mumbai.
MGL shares on BSE closed down marginally at ₹996.8 in a weak Mumbai market on Wednesday, valuing the company at ₹9,846 crore.