Mumbai, Apr 3 (IANS): In a poll season shocker, the Mahanagar Gas Ltd on Wednesday announced sharp hikes in the prices of domestic piped natural gas (PNG) and compressed natural gas (CNG), with effect from midnight.

The basic rates for domestic PNG will go up by Rs 1.88/kg and CNG by Rs 1.51/kg. CNG is mostly used by vehicles, private and public, while PNG is supplied to homes through pipes for domestic consumption.

According to the new rates, the PNG prices will go up from Rs 29.40/SCM to Rs 31.53/SCM (slab 1) and Rs 35/SCM (slab 2) and CNG from Rs 49.61/kg to Rs 51.57/kg, inclusive of all taxes.

The MGL has attributed the hikes to a recent increase in the natural gas prices between $3.36 and $3.69.

However, it has assured that this would have a marginal impact of Rs 0.06/km and Rs 0.07/km for three-wheelers and four-wheelers respectively.

Despite the latest hike, the MGL says CNG continues to offer huge savings of 53 percent-37 percent compared to petrol-diesel prices, respectively, at current prices in Mumbai besides being eco-friendly and reliable.

MGL has over 10 lakh PNG consumers, and around 6.50 lakh CNG users in Mumbai, Thane and Raigad districts who will have to bear the additional burden, officials said.