Mahanagar Gas hikes CNG prices by Re 1 to Rs 48.95/kg

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State-run city gas utility Mahanagar Gas on Saturday announced a marginal Re 1 per kg increase in the price of compressed natural gas (CNG) to Rs 48.95 per kg.

"To partially recover fixed costs in the face of lower sales due to the pandemic, and higher landing cost of gas due to the depreciation of the rupee against the dollar, we are constrained to increase the selling of CNG by Re 1 effective today,” MGL said in a statement.

Accordingly, revised selling price inclusive of all taxes in and around Mumbai will be Rs 48.95/kg, it added.

Even after the above revision, CNG offers attractive savings of about 60 per cent and 39 per cent compared to petrol and diesel, respectively, at the current price levels in the megapolis, it said.