The Mahanagar Gas Ltd (MGL) has slashed the price of Compressed Natural Gas (CNG) for Mumbai and surroundings by ₹2.50/kg with effect from February 1 (midnight of January 31, 2023 / morning of February 01, 2023).
CNG to cost ₹87 now
Accordingly, the revised prices of CNG, used in vehicles, will come down from ₹89.50/kg to ₹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 ₹80/kg to ₹86/kg, followed by another upward revision from ₹86/kg to ₹89.50, and now be available at ₹87/kg, benefitting over 800,000 consumers using gas-powered vehicles in MMR.
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 and Natural Gas, which will reduce the MGL's input costs, said an official of MGL.
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