Mahanagar Gas Limited (MGL) hiked the price of compressed natural gas (CNG) by Rs 7 per kilogram to Rs 67 per kg on Wednesday. MGL has increased the price of domestic piped natural gas (PNG) by Rs 5 per Standard Cubic Meter (SCM) to Rs 41 per SCM, effective today in Mumbai, according to CNBCTV18. The rise is the result of a global increase in gas costs. PNG is utilized for both domestic and commercial and industrial purposes.
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Gujarat Gas has increased the state’s CNG price by Rs 6.5 per kg to Rs 76.98 per kg. Domestic PNG pricing has not changed. Indraprastha Gas Limited (IGL) increased the price of compressed natural gas (CNG) by Rs 2.5/kg to Rs 66.61/kg (Delhi), reported CNBCTV18. CNG prices have risen by Rs Rs 6.6/kg in April only.
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Also, Petrol and diesel prices hiked for the fourteenth time in the last sixteen days on Wednesday by 80 paise per litre each. Petrol in Delhi will now cost Rs 105.41 per litre, up from Rs 104.61, while diesel prices rose from Rs 96.67 to Rs 95.87.
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Petrol and diesel prices in Mumbai, the country’s financial hub, were hiked by 84 paise and 85 paise to Rs 120.51 a litre and Rs 104.77 a litre, respectively. The first increase in petrol and diesel prices this year announced on March 22 was the first hike in 137 days.
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Oil futures slid on Wednesday, extending losses from the previous day, as a stronger US dollar prompted fresh selling while data showing a build in US crude stocks and Shanghai’s extended lockdown fuelled fears of slower demand.
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Brent crude futures fell 97 cents, or 0.9%, to $105.67 a barrel, while US West Texas Intermediate futures were down 98 cents, or 1.0%, to $100.98 a barrel. Brent fell 0.8% on Tuesday and WTI lost 1.3%.