In less than a month, city gas distributor Mahanagar Gas (MGL), has, for the second time, increased prices for compressed natural gas (CNG) by Rs. 6 per kg and piped natural gas (PNG) by Rs. 4 a unit. This is also the sixth price hike since April this year.
"Due to the significant increase in input gas cost, we have decided to recover the cost. Accordingly, we've increased the retail price of CNG (Compressed Natural Gas) to Rs. 86 (per kg) and domestic PNG (Piped Natural Gas) by Rs. 4/SCM (standard cubic meter) to Rs. 52.50 in and around Mumbai, effective from this midnight," MGL said in a statement.
The company added that the price hike is to meet the shortfall in domestic gas allocation, as it is forced to source additional market-priced natural gas to cater to the increasing requirement of CNG and PNG. The last increase came into effect on July 12th when MGL hiked the retail price of CNG by Rs. 6 per kg and PNG by Rs. 3/SCM.