Mahanagar Gas reduces CNG and PNG price
Compressed natural gas (CNG) and domestic piped natural gas (DPNG) prices in and around Mumbai have been reduced by 8 rupees per kilogram and 5 rupees per standard cubic meter (SCM), respectively, by Mumbai-based Mahanagar Gas Ltd (MGL), effective as of midnight on April 7, 2023. The decrease follows changes to the pricing structure for domestically produced natural gas made by the Indian government to encourage its use in the building and transportation industries. As a result, at Rs 79 per kg and Rs 49 per kg, respectively, domestic LPG and domestic PNG will be much more expensive than gasoline, diesel, and CNG.
According to MGL, it will pass along the savings in domestic gas prices to its domestic PNG and CNG customers. The company also noted that this government initiative will encourage more natural gas use in the domestic and transportation sectors, furthering India’s efforts to become a cleaner and greener nation. CNG now offers savings of roughly 49% and 16% in comparison to petrol and diesel, respectively, at current pricing levels in Mumbai, after MGL reduced the price by Rs 2.5 per kg in February.
NewsOTG gathered that the business also stated that MGL’s Domestic PNG will provide savings of about 21% when compared to the present cost of Domestic LPG. The Indian government’s initiative to lessen its carbon footprint and create a cleaner environment is encouraging. When customers convert to more affordable and environmentally friendly sources of energy, it is anticipated to have a favorable effect on both the household and transportation sectors. Other businesses are likely to follow in MGL’s footsteps and provide natural gas at lower pricing as the nation works to achieve a greener future.
Natural gas will become more competitive versus other fossil fuels as a result of this price drop, offering consumers wishing to lessen their carbon impact and save money on fuel an appealing alternative.