Mahanagar Gas Hikes CNG Prices By Rs 1 Per KG In Mumbai
Mahanagar Gas Ltd. has hiked CNG prices by Rs 1 per kg to Rs 48.95 per kg in and around Mumbai, the state-run city gas distributor said on Saturday.
"To partially recover fixed costs in the face of lower sales due to the pandemic, and higher landing cost of gas due to the depreciation of the rupee against the dollar, we are constrained to increase CNG prices by Rs 1 effective today," Mahanagar Gas said in a statement. Accordingly, the revised selling price, inclusive of all taxes in and around Mumbai, will be Rs 48.95 per kg.
Even after the revision, compressed natural gas offers attractive savings of about 60% and 39% compared to petrol and diesel, respectively, it said.
On Friday, Mahanagar Gas shares remained flat at Rs 1,027.55 apiece on the BSE even as the benchmark Sensex fell 0.03% to end the day at 38,128.90 points.