Save More On CNG, Mahangar Gas Cuts Prices By Rs 3/kg In Mumbai; PNG Cheaper By Rs 2/SCM

Mahanagas Gas (MGL) has reduced the prices of its domestic Piped Natural Gas (PNG) and Compressed Natural Gas (CNG) with effect from October 1, 2023. This move comes right after the Oil Ministry revised natural gas prices for the current month.

As per MGL's circular, CNG price is reduced by Rs 3/Kg and Domestic PNG (DPNG) by Rs 2/ SCM in and around Mumbai.

With that, the revised MRP of CNG will be Rs 76.00/Kg and Domestic PNG Rs 47.00/SCM effective from midnight of 1st October 2023/ morning of 2nd October 2023.

According to the circular, MGL's CNG now offers attractive savings of more than 50% compared to petrol and almost 20% compared to diesel at current price levels in Mumbai. MGL's Domestic PNG at current MRP is cheaper than Domestic LPG while offering households unmatched convenience, safety, reliability, and environmental friendliness.

Further, MGL said that it welcomes the reduction in the price of domestically produced High-Pressure High Temperature (HPHT) Natural Gas by GOI. Adding MGL said, "This reduction will further promote usage of Natural Gas in general and will contribute to an increase in consumption of natural gas in domestic and transportation segment in particular."

Last week, for gas produced from discoveries in deepwater, ultra-deepwater, high-pressure and high-temperature areas, the price ceiling has been decided to $9.96 MMBTU on GCV for October month. Meanwhile, the Centre kept the ceiling on gas produced by ONGC and Oil India from their nomination fields unchanged at $6.50 per MMBtu on a GCV basis for the same period.

However, the government has hiked the prices of natural gas which are produced in domestic fields, by at least 7% from the entire October month.

As per the notification of the Petroleum Planning & Analysis Cell, the price of domestic natural gas for October 1 to 31st, is hiked to $9.20 per MMBtu on a gross calorific Value (GCV) basis. Earlier, the price was $8.6 per MMBTU.

Mahanagar Gas Limited, (MGL) one of India's leading Natural Gas Distribution Companies was incorporated on 8th May 1995. GAIL (India) (Maharatna Company of Govt. of India) is the promoter of MGL.