MGL Raises CNG Price by ₹2/kg as LNG Costs Remain High

Mahanagar Gas Ltd (MGL), a city-gas distributor in India, has announced that it will increase the price of compressed natural gas (CNG) by ₹2 per kilogram across all its retail outlets. This decision comes into effect on September 1 and marks the third hike in CNG prices this year for MGL.

The latest price increase is due to the continued high cost of liquified natural gas (LNG), which has been impacted by tensions in West Asia. MGL stated that it needs to offset the increased input gas price, which has significantly affected its overall costs.

In addition to the CNG price hike, MGL will also increase the rates for domestic piped natural gas (D-PNG) by ₹1 per standard cubic meter. This is the third consecutive price increase for MGL's customers this year, with the total cumulative increase in CNG prices reaching ₹6 per kilogram since May 14.