MGL Hikes CNG Price Amid Middle East Crisis

Mahanagar Gas Limited (MGL) has increased its prices for Compressed Natural Gas (CNG) and Domestic Piped Natural Gas (PNG). The CNG price in and around Mumbai will now be ₹88 per kg, up from the previous rate of ₹86 per kg. This increase comes amid global energy market volatility linked to renewed US-Iran tensions and rising crude and gas prices.

MGL attributed the price hike to a sharp rise in the cost of natural gas linked to international benchmarks. The company also cited strong demand for CNG and higher costs of imported spot regasified liquefied natural gas (RLNG), which accounts for a substantial share of the gas supplied to the CNG segment.

The revised PNG price will be ₹1 per standard cubic meter (SCM) higher, affecting around 30 lakh households. The increase comes days after Indraprastha Gas Limited (IGL) raised its CNG price by ₹3.89 per kg to ₹86.98 per kg in Delhi-NCR and adjoining areas.