MNGL reduces PNG & CNG prices

NT Correspondent

Bengaluru:

The Ramanagarabased City Gas Distribution (CGD) company, Maharashtra Natural Gas Limited (MNGL), has decided to reduce the prices of domestic Piped Natural Gas (PNG) by Rs 5.85 per SCM and Compressed Natural Gas (CNG) by Rs 6.0 per Kg with effect from the midnight of 7- 8 April. The move comes in the wake of the Union Cabinet announcing a new price mechanism for the bulk of domestically-produced natural gas by state-run explorers, resulting in a reduction in the prices of PNG and CNG for automobiles.

Accordingly, MNGL has reduced the retail price of PNG to Rs 52.65 per SCM from an earlier price of Rs 58.50 per SCM and the retail price of CNG to Rs 84.00 per KG from Rs 90.00 per KG in MNGL's geographical areas. Following the above revision, MNGL’s CNG would result in savings of around 50 per cent and 27 per cent as compared to petrol and diesel respectively at current price levels in the Ramanagara district for the passenger car segment and around 28 per cent for autorickshaws.

MNGL is affecting the Natural Gas price reduction on account of a downward revision in the purchase cost of domestic natural gas. MNGL has decided to pass on the benefit of reduced gas costs to the customers. MNGL’s Domestic PNG is around 15 per cent cheaper than domestic LPG cylinder prices after the price revision.