Mahanagar Gas cuts CNG, PNG prices

State-run Mahanagar Gas (MGL) on Thursday cut prices for the compressed natural gas (CNG) and domestic piped natural gas (PNG) from tonight following a drop in the domestically produced gas. "MGL has reduced its CNG price by Rs 2.04 per kg and PNG by Rs 1.19 per SCM in and around Mumbai effective from tonight," the company said in a statement.

Accordingly, revised delivered prices inclusive of all taxes of CNG and PNG will be Rs 49.95 per kg and Rs 30.60 per SCM (Slab 1) and Rs 36.20 per SCM (Slab 2) respectively. On September 30, the government announced a 12.5 per cent reduction in domestic natural gas price to USD 3.23 per million British thermal units (mmBtu) from USD 3.69 per mmBtu (on a gross calorific value basis).

"After the revision, MGL's CNG offers attractive savings of about 55 per cent and 29 per cent as compared to petrol and diesel respectively at current price levels in Mumbai," it said..

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