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Mahanagar Gas Raises CNG Prices by Rs 2 Per Kg Amid Middle East Tensions

Guavy AI Editorial Team
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Natural Gas
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Mahanagar Gas Limited (MGL) has increased the price of Compressed Natural Gas (CNG) by Rs 2 per kg and Piped Natural Gas (PNG) by Rs 1 per SCM, effective September 1. The company cited rising input costs due to Middle East tensions as the reason for the price hike.

The new prices take effect at midnight on September 1, with CNG now costing Rs 88 per kg in Mumbai and PNG priced at Rs 53 per SCM. Around 13 lakh CNG vehicles in Maharashtra and Karnataka depend on MGL's supply network.

MGL shares closed at Rs 1,069 on the BSE, down Rs 22.60 or 2.07 per cent from the previous close of Rs 1,091.60. The market cap of Mahanagar Gas stood at Rs 10,559.34 crore.

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