Mahanagar Gas Reduces CNG And PNG Price

Mahanagar Gas Ltd. (MGL) on Friday announced a price reduction of Rs. 8 per kg for compressed natural gas (CNG) and Rs. 5 per Standard Cubic Metre (SCM) for piped natural gas (PNG) in and around Mumbai.

After the reduction in prices, the Domestic PNG will now cost Rs 49 per SCM and CNG will cost Rs 79 per Kg effective from midnight on April 7, 2023.

The decision comes after the Kirit Parikh committee's recommendation that the Centre update the pricing methodology for domestically produced natural gas on Thursday, and after the Center announced the new price earlier in the day.

In February, the price of CNG was reduced by Rs 2.5/kg by the city gas distributor.

According to the company, at Mumbai's current price levels, CNG offers savings of about 49% and 16% when compared to petrol and diesel, respectively.