Mahanagar Gas increases CNG and PNG prices on rupee depreciation - Indian Express

PTI : Mumbai, Sun Jun 30 2013, 20:01 hrs Price of PNG will go up to Rs 24.09 per SCM in Mumbai and Rs 24.17 in Thane, the statement said. (AP) City gas distributor Mahanagar Gas (MGL) today increased the price of compressed natural gas (CNG) -- used as fuel by almost all the taxis and autos in the metropolis -- by Rs 2 per kg due to rupee depreciation. The price of domestic piped natural gas (PNG) has been increased by Rs 2.19 per Standard Cubic Meter. The move, which will come into effect from midnight, was necessitated in "order to recover part of increase in overall input costs and rupee depreciation against US dollar," MGL statement said. The announcement comes within a day of oil retailers announcing increase of Rs 1.82 per litre of petrol due to the slide in rupee, which has depreciated by 12 per cent since May and breached the Rs 60 against the dollar mark last week. Accordingly, the revised price of CNG will go up to Rs 35.95 per kg in Mumbai and Rs 36.47 in the neighbouring suburb of Thane, it said. Price of PNG will go up to Rs 24.09 per SCM in Mumbai and Rs 24.17 in Thane, the statement said. ALSO READ Jindal Steel to commission 2-MTPA steel plant in Oman in Oct Gas price hike to pull in big-ticket investments Prices of important drugs may be halved as govt set to notify rate caps Petrol price hiked by Rs 1.82 a litre, diesel next Please read our terms of use before posting comments TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s). via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGMwnpxF4A-Fd4V_XkxRCIopcmfqg&url=http://www.indianexpress.com/news/mahanagar-gas-increases-cng-and-png-prices-on-rupee-depreciation/1135851/

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