On Wednesday, the city gas utility Mahanagar Gas Ltd (MGL) has announced a steep hike in the retail price of CNG by Rs 7 per kg and domestic PNG by Rs 5 per scm to Rs 41per scm, with effect from today.

Meanwhile, just last week, the city gas utility Mahanagar Gas on Thursday had announced a reduction in the retail price of CNG by Rs 6 per kg and piped gas by Rs 3.50 per scm, effective Friday, even as the Centre more than doubled the price of domestically-produced natural gas earlier in the day.

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In a statement, MGL said a consequence of the reduction in VAT on natural gas from 13.5 per cent to 3 per cent from April 1 by the state government, MGL has decided to pass on the entire benefit to end-consumers.

Accordingly, the retail price of compressed natural gas (CNG) is cut by Rs 6 to Rs 60 per kg and domestic piped natural gas (PNG) by Rs 3.50 to Rs 36/scm in and around Mumbai effective Friday, it said.