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Mahanagar Gas Ltd (MGL) has hiked the worth of compressed pure gasoline (CNG) by Rs. 1 per kg in and round Mumbai. The revised costs have already come into impact
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Mahanagar Gas has hiked CNG costs in Mumbai by Rs. 1 per kg
Mahanagar Gas Ltd (MGL), India’s main pure gasoline distributor on Friday revised the CNG costs in and round Mumbai by ₹ 1 per kg. Customers will now should shell out ₹ 48.95 for a kg of CNG throughout town. The gasoline distributor cited decrease gross sales volumes due to COVID-19 and better price because of the depreciation of rupees in opposition to the greenback as the primary causes for the CNG value hike.
Also Read: Diesel Price in Delhi At Its Highest Ever At ₹ 81.79 Per Litre, Petrol Remains Unchanged
Mahanagar Gas stated in an announcement that, “To partially recover fixed costs in the face of lower sales due to the pandemic, and higher landing cost of gas due to the depreciation of the rupee against the dollar, we are constrained to increase CNG prices by Rs 1 effective today.”
With new costs coming into impact, MGL stated that compressed pure gasoline gives enticing financial savings of round 60 per cent and 30 per cent as in comparison with petrol and diesel respectively, contemplating the present gasoline costs in Mumbai. To recall, MGL lowered the costs of CNG by ₹ 2 per kg in April because the Indian authorities had slashed the speed of domestically produced pure gasoline because of nationwide lockdown.
Also Read: India’s Petrol, Diesel Demand Falls Due To High Prices, Lockdown
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However, the state-run metropolis gasoline distributor has spared the home customers of PNG by not climbing the costs this time round. But, it had additionally diminished the costs of PNG in April due to the lockdown. Mahanagar Gas shares on Friday remained flat at ₹ 1,027.55 apiece on the BSE at the same time as Sensex fell 0.03 per cent to finish the day at 38,128.90 factors.
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