Mahanagar Gas cuts CNG, PNG prices

The price of CNG in adjoining towns of Noida, Greater Noida and Ghaziabad was cut by 90 paisa to Rs 42.60 per kg with effect from Thursday midnight.

People of national capital region will get to feel a respite from the rising Compressed Natural Gas price, as it has been sliced by 80 paise per kg on Thursday.

This revision would result in a decrease of Rs 0.80 per kg in the CNG consumer price in Delhi and Rs0.

Due to differential tax structure in the state of Uttar Pradesh, the applicable price of domestic PNG to households in Noida, Greater Noida and Ghaziabad would be Rs 26.15 per scm, which has been reduced by Rs 0.90 per scm from existing Rs 27.05 per scm. The price of CNG in Delhi remains lowest in the country.

According to a circular from the Petroleum Planning and Analysis Cell (PPAC), the price of natural gas from domestic fields would drop to $4.24/mBtu from October 1 on net calorific value (NCV) basis, from $5.18/mBtu previously. “It further expects a Rs 2.1-2.3 per scm cut in PNG prices and Rs 2.8-3.0 per kg cut in CNG prices”, the Fitch Group entity said. The decision was taken by the oil ministry due to the decrease in the 18 per cent reduction in domestic natural gas prices starting October 1. “With this reduction, gas supplied by MGL continues to be an attractive proposition and offers savings of 58% and 20% compared with petrol and diesel, respectively”, said the spokesperson. IGL is now catering to over 850,000 CNG vehicles in the capital, including almost 550,000 private cars.