Following the steep 62 per cent hike in costs of domestically produced gasoline introduced by the Centre final week, Mahanagar Fuel on Monday elevated the retail worth of compressed pure gasoline (CNG) and piped pure gasoline (PNG) by Rs 2 every with speedy impact.
Given the large improve in supply-side value, the corporate is constrained to extend the bottom worth of CNG by Rs 20/kg and home PNG by Rs 2/SCM in and round Mumbai, MGL mentioned in an announcement.
Noting that the re-gasified liquefied pure gasoline worth can be at a historic excessive now, MGL mentioned these mixtures have resulted in a big improve in the price of gasoline being procured by it.
This has pressured the agency to go on the value revision on a progressive method as the speed hike from the availability aspect is simply too massive to be handed on at one go, it added.
Accordingly, the revised delivered worth inclusive of all taxes of CNG and home PNG in and round Mumbai shall be Rs 54.57/kg and Rs 32.67/SCM for Slab 1 clients and and Rs 38.27/SCM for Slab 2 clients, respectively.
Even on the new costs, CNG is cheaper by 65 per cent in comparison with petrol and 44 per cent within the case of diesel. Home PNG is cheaper by 34 per cent as in opposition to LPG.
On October 1, the Centre elevated the value for domestically produced pure gasoline from fields to USD 2.90 per million British thermal unit and for gasoline produced from tough fields comparable to deepsea to USD 6.13 per mmBtu.