There is news of relief for Mumbaikars amid rising prices of petroleum products. Gas distribution company Mahanagar Gas Limited has increased the retail price of CNG by Rs. 6 per kg and Piped Cooking Gas (PNG) costs Rs. 3.50 per cubic meter has been announced. The new prices are effective from today i.e. Friday i.e. 1st April 2022.
The cut comes after the central government cut natural gas prices by more than double from April 1 amid rising fuel prices globally. In a statement issued on Thursday, MGL said that the state government has decided to reduce the Value Added Tax (VAT) on natural gas from 13.5 per cent to three per cent with effect from April 1.
With this decision, the retail price of CNG in Mumbai and adjoining areas will be Rs 60 per kg and that of domestic PNG will be Rs 36 per cubic metre. With regard to the price hike for the manufacturers by the central government, a spokesperson of MGL said that the company will assess the impact of the sharp increase in supply prices and revise the retail prices accordingly.