BackCNG, PNG up for fifth time this year in Mumbai
The CNG is now being sold at ₹86/Kg, which is an increase of ₹6 and domestic PNG is now being sold for ₹52.50/Standard Cubic Metre (SCM), an increase of ₹4.
PremiumThe prices of Compressed Natural Gas (CNG) and domestic Piped Natural Gas (PNG) increased in Mumbai from the midnight of August 2. This is the fifth time that there has been an increase in the prices of CNG and PNG in the metropolitan city.
As per details, the CNG is now being sold at ₹86/Kg, which is an increase of ₹6 and domestic PNG is now being sold for ₹52.50/Standard Cubic Metre (SCM), an increase of ₹4. The last hike was on 12 July.
"Since the increase in input cost is significantly high, MGL has decided to recover such increased gas costs. Accordingly, MGL is constrained to increase the MRP of CNG by ₹6/Kg and domestic PNG by ₹4/SCM in and around Mumbai from the midnight of 2 August," a statement from Mahanagar Gas Limited (MGL) read.
Following the hike, the auto rickshaw and taxi unions expressed shock and said that they will approach the state government for immediate relief.
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“It will be impossible to operate taxis and auto rickshaws. We will meet Maharashtra government officials tomorrow and will demand an immediate fare hike," Mumbai Taximen’s Union leader AL Quadros said.
"There is a constant hike in the CNG price. We will be approaching the Maharashtra government and demand subsidy in CNG for auto rickshaw and taxi drivers," Mumbai Autorickshaw Men’s Union president Shashank Rao said.
The recent spiraling global prices of natural gas amid a surge in demand from Europe and lower supplies from Russia is posing a serious challenge for India’s gas industry.
Earlier reports arrived that for Mahanagar Gas Ltd and Indraprastha Gas Ltd -- which derive higher contributions from the sale of CNG (compressed natural gas) -- increase in prices may hit their volume growth while volatility in blended gas prices means uncertainty on the margin front.
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