Now, gas price hike jolts Mumbai

Mumbai, Oct 1 The Mahanagar Gas Ltd (MGL) on Monday effected sharp revisions in prices of CNS and PNG with effect from Monday midnight, an official spokesperson said.While the basic prices of CNG has been hiked by Rs.2.66/kg, the domestic PNG has been increased by Rs.1.89/SCM in Mumbai and surroundings.Accordingly, the revised delivery prices, including all taxes of CNG in Mumbai, will go up from Rs 46.17/kg to Rs 49.61/kg.Simiarly, the domestic PNG prices will be hiked from Rs 27.25/SCM to Rs 29.40 (Slab 1) and from Rs 32.85/SCM to Rs 35.00/SCM.The MGL said the revised cost of CNG would impact around 10 paise/km to 13 paise/km on the per km running cost of autorickshaws and taxies but continue to be most attractive proposition offering savings of 61 percent and 38 percent compared to petrol and diesel.The MGL justified the hike on the basis of gas costs going up in the global markets from USD 3.06 to USD 3.36/MMBTU(GCV), INR depreciation versus USD, increased in transport tariffs and other non-gas costs.