Mahanagar Gas Hikes CNG Prices Amid Rising Input Costs
Mahanagar Gas has announced a price hike for Compressed Natural Gas (CNG) and domestic piped natural gas (PNG). The new CNG price will be Rs 88 per kg in and around Mumbai, effective from midnight on September 1. This is an increase of Rs 2 per kg from the previous rate. The price hike has been attributed to rising input costs due to the Middle East tensions.
The company cited significant demand for CNG and a major portion of input gas being met through imported spot RLNG, which has higher prices. MGL said that this price hike will only partially offset the increasing cost of input gas and ensure continued supply of CNG to customers.
Domestic PNG consumers will also face a Rs 1 per SCM increase in prices due to the same reason. Around 30 lakh domestic consumers rely on Mahanagar Gas for their piped natural gas needs. This price hike comes days after Indraprastha Gas, serving Delhi and surrounding areas, hiked CNG prices by Rs 3.89 per kg.
Mahanagar Gas supplies CNG to around 13 lakh vehicles in Mumbai, Thane, Raigad, Ratnagiri, Latur, Dharashiv, Chitradurga, and Davangere.