Motilal Oswal
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Motilal Oswal
June 13, 2018 02:39 PM | Business

CNG, PNG price rise in Mumbai due to rupee depreciation, says Mahanagar Gas

Compressed natural gas (CNG) and piped natural gas (PNG) price rise in Mumbai due to rupee depreciation, said Mahanagar Gas Ltd (MGL).

Earlier, MGL, one of the largest natural gas distribution firm in India, raised the prices of PNG and CNG by nearly Rs 1.51 and Rs 0.33 per kg.

Speaking to CNBC-TV18, SM Ranade, chief financial officer, of the company said exchange rate movements will have to be closely watched going forward.

“Whenever there are constraints and limitations for the company to bear cost, we are required to take some additional price rise," he said.

On crude front, he said surging oil prices have led to higher prices of liquid fuels implying better realisation.
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