MGL Raises CNG and PNG Prices in Mumbai Amid International Gas Crisis
MGL, the primary CNG supplier in Mumbai and nearby areas, has increased its CNG and PNG prices. The revised rates came into effect from September 1, with CNG becoming costlier by Rs 2 per kg and PNG by Re 1 per standard cubic meter.
The new CNG price in Mumbai is Rs 88 per kg, up from the old rate of Rs 86 per kg. MGL cited a sharp rise in the cost of natural gas available through international markets as the reason for the price hike.
The company pointed to sustained demand for CNG and the fact that a significant portion of the gas supplied to the CNG segment comes from imported spot regasified liquefied natural gas (RLNG), exposing it to higher international prices.
MGL said the Rs 2-per-kg increase will only partially offset the additional cost of procuring gas. The company's network supplies CNG to around 13 lakh vehicles across parts of Maharashtra and Karnataka.