From Feb 1, MGL slashes CNG price by Rs 2.50/kg for Mumbai
By IANS | Published: January 31, 2023 08:03 PM2023-01-31T20:03:04+5:302023-01-31T20:20:24+5:30
Mumbai, Jan 31 The Mahanagar Gas Ltd (MGL) has slashed the price of Compressed Natural Gas (CNG) for ...
Mumbai, Jan 31 The Mahanagar Gas Ltd (MGL) has slashed the price of Compressed Natural Gas (CNG) for Mumbai and surroundings by Rs. 2.50/kg with effect from February 1 midnight, an official said here on Tuesday.
Accordingly, the revised prices of CNG, used in vehicles, will come down from Rs 89.50/kg to Rs 87/kg, and will prove 44 per cent cheaper compared with petrol prices at the current price levels.
In October 2022, the CNG prices were hiked from Rs 80/kg to Rs 86/kg, followed by another upward revision from Rs 86/kg to Rs 89.50, and now be available at Rs. 87/kg, benefitting over 800,000 consumers using gas-powered vehicles.
The latest downward revision is in anticipation of increased allocation of domestically produced gas from the HPHT to CGD entities by the Ministry of Petroleum & Natural Gas, which will reduce the MGL's input costs, said the spokesperson.
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