Citing a steep hike of 110 per cent in the price of pure gas provides, metropolis gas distributor MGL on Friday elevated the retail price of car gas CNG by Rs 4 per kg however left the speed of cooking gas unchanged.
This is the third hike within the price of Compressed Natural Gas (CNG) since April 6.
MGL mentioned CNG will now price Rs 76 a kg in and round Mumbai efficient from this midnight. However, there will probably be no enhance within the domestic PNG price.
With the newest enhance, CNG costs are up by Rs 16 per kg since they got here down by Rs 6 a kg between April 1 and 5. The charges have been lowered after the state authorities had reduce the VAT (Value Added Tax) to three per cent from 13.5 per cent.
The central authorities, on April 1, introduced a 110 per cent enhance within the provide price of gas from regulated fields of state-owned ONGC and Oil India to a report USD 6.10 per million British thermal items (mmBtu) from USD 2.90.
Natural gas when compressed turns into CNG to be used as gas in vehicles. The similar gas can be piped to family kitchens and industries for cooking and different functions.
The state-owned Mahanagar Gas Limited (MGL) additionally cited the traditionally excessive price of re-gasified LNG, which is being blended to offset the shortfall within the availability of gas for CNG and domestic piped pure gas, as the rationale for the third consecutive enhance within the retail costs.
The mixture of price rises have resulted within the vital enhance in the price of gas being procured by MGL, it mentioned in an announcement on Friday, including that the progressively price enhance is the one technique to get well such elevated gas price.
Even on the revised price, CNG is cheaper by 57 per cent and 27 per cent in comparison with these of petrol and diesel, respectively, MGL mentioned.
On April 6, MGL had elevated the costs of CNG and PNG by Rs 7 and Rs 5 per kg, respectively. Again on April 12, the charges have been elevated by Rs 5 a kg for CNG and by Rs 4.50/SCM for domestic piped pure gas.
(Only the headline and film of this report might have been reworked by the Business Standard employees; the remainder of the content material is auto-generated from a syndicated feed.)
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