CNG worth hiked by Rs 4 per kg; home fuel customers spared | Economy News


New Delhi: Citing a steep hike of 110 per cent in the price of pure fuel provides, metropolis fuel distributor MGL on Friday elevated the retail worth of car gas CNG by Rs 4 per kg however left the speed of cooking fuel unchanged.

This is the third hike within the worth of Compressed Natural Gas (CNG) since April 6.

MGL stated CNG will now value Rs 76 a kg in and round Mumbai efficient from this midnight. However, there can be no enhance within the home PNG worth.

With the newest enhance, CNG costs are up by Rs 16 per kg since they got here down by Rs 6 a kg between April 1 and 5. The charges had been lowered after the state authorities had reduce the VAT (Value Added Tax) to three per cent from 13.5 per cent.

The central authorities, on April 1, introduced a 110 per cent enhance within the provide worth of fuel from regulated fields of state-owned ONGC and Oil India to a report USD 6.10 per million British thermal items (mmBtu) from USD 2.90.

Natural fuel when compressed turns into CNG to be used as gas in vehicles. The similar fuel can also be piped to family kitchens and industries for cooking and different functions.

The state-owned Mahanagar Gas Limited (MGL) additionally cited the traditionally excessive value of re-gasified LNG, which is being blended to offset the shortfall within the availability of fuel for CNG and home piped pure fuel, as the rationale for the third consecutive consecutive enhance within the retail costs.

The mixture of worth rises have resulted within the vital enhance in the price of fuel being procured by MGL, it stated in a press release on Friday, including that the progressively worth enhance is the one solution to recuperate such elevated fuel value.

Even on the revised worth, CNG is cheaper by 57 per cent and 27 per cent in comparison with these of petrol and diesel, respectively, MGL stated.

On April 6, MGL had elevated the costs of CNG and PNG by Rs 7 and Rs 5 per kg, respectively. Again on April 12, the charges had been elevated by Rs 5 a kg for CNG and by Rs 4.50/SCM for home piped pure fuel.

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