MGL Raises CNG and PNG Prices Amid Middle East Tensions

Mahanagar Gas Limited (MGL) has raised the price of Compressed Natural Gas (CNG) by Rs 2 per kg and Piped Natural Gas (PNG) by Rs 1 per standard cubic meter (SCM) due to escalating input costs triggered by ongoing tensions in the Middle East.

The updated rates will take effect at midnight on September 1, making CNG retail price in and around Mumbai Rs 88 per kg. This move follows a similar decision by Indraprastha Gas Limited (IGL), which supplies the National Capital Region, to increase CNG prices by Rs 3.89 per kg due to rising operational expenses.

MGL cited heavy customer demand as the reason for sourcing a substantial portion of its CNG input through higher-priced spot Regasified Liquefied Natural Gas (RLNG) imports. The price adjustment will only partially cover the surge in input expenses, allowing MGL to maintain an uninterrupted supply to its consumer base.