Mumbai's sole gas supplier Mahanagar Gas Limited (MGL) raised the prices of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG), effective from the midnight of October 31/morning of November 01, 2014.
In a statement, MGL said that it was done due to the 'significant increase' in gas purchase costs for the firm. "In view of significant increase in MGL’s gas purchase costs due to recent increase in ‘Domestic Natural Gas (APM) Price’ by Government of India from US$ 4.20 / MMBTU (NCV) to about US$ 5.61 /MMBTU (NCV) ( US$ 5.05 / MMBTU on GCV basis); MGL is constrained to partly pass through its increase in gas cost and other costs by increasing the price of Compressed Natural Gas (CNG) by Rs. 4.50/kg and Domestic Piped Natural Gas (PNG) by Rs 2.49/ SCM in Mumbai effective from midnight "
MGL said the revised price of CNG in Mumbai will be Rs. 43.45/kg and price of domestic PNG in Mumbai will be Rs. 26.58 /SCM. This price increase is also being affected in the municipalities adjoining Mumbai after factoring in implications of local municipal Octroi/LBT and/or Cess rates. Revised prices (inclusive of local taxes) of CNG in the areas / municipalities adjoining Mumbai shall be in the range of Rs. 43.45/Kg to Rs. 44.70/Kg, said the MGL statement.
Mumbaikars travelling by rickshaws and taxis, which are completely run on CNG, can breathe easy for the moment. That is because as per the Hakeem Commitee formula for fare hikes, the next hike cannot come before May 1 next year provided all the other conditions of calculating the formula- apart from fuel costs- are also favourable.
Speaking to dna, Thampi Kurien, chief of the Mumbai Rickshawmen's Union, the move will hit the pockets of the drivers who will pay anything between Rs 25 to Rs 50 extra per day for CNG.
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