CNG, PNG price hike: MGL increases gas prices for 2nd time in April; check latest rates

New Delhi: Mahanagar Gas Limited (MGL) has announced a revision in the prices of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai. With the latest revision in the gas prices, CNG will now be selling at Rs 72 per Kg. On the other hand, PNG will sell at Rs 45.50/SCM in the financial capital of India. 

MGL has increased the prices of CNG by Rs 5 per Kg while the rates of PNG have been hiked by Rs 4.50/SCM. The latest gas rates are effective midnight of 12th April, 2022. 

Earlier this month, MGL had increased the prices of CNG and PNG on April 6, 2022. At that time, the price of CNG and PNG were increased by Rs 7 per Kg and Rs 5/SCM in Mumbai. 

Further, on March 31, the natural gas distribution company had decreased the prices of CNG by Rs 6 per Kg and PNG by Rs 3.50/SCM, following an order by the state government to lower the VAT on fuels to 3% from 13.5%. The rates were effective 1 April. 

According to media reports, the Central government has hiked the supply price of domestically-produced natural gas by about 110%. Further, a PTI report said that the supply price of gas from regulated fields of Oil and Natural Gas Corporation Limited (ONGC) and Oil India rose to a record $6.10 per million British thermal units (mmBtu) from $2.90. Also Read: Elon Musk accused of violating law while buying Twitter stock 

The rate for difficult fields such as deepwater will increase to $9.92 per mmBtu for April-September from $6.13 per mmBtu, the report added. Also Read: Retail inflation jumps to 17-month high of 6.95% in March as costlier food items pinch

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