Amidst the rising prices of petroleum products, there has been some relief news for Mumbaikars. Gas distribution company Mahanagar Gas Limited has announced a reduction in the retail price of CNG by Rs 6 per kg and piped cooking gas (PNG) by Rs 3.50 per cubic metre. The new prices have become effective from today i.e. Friday i.e. 1st April 2022.
This reduction has been done after the central government has more than doubled the price of natural gas with effect from April 1 amid a rise in 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.
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With this decision, the retail price of CNG in Mumbai and its adjoining areas will be Rs 60 per kg and that of domestic PNG will be Rs 36 per cubic metre. On price hike for producers by the central government, MGL spokesperson said that the company will evaluate the impact of the steep increase in supply prices in due course and revise its retail prices accordingly.