Mahanagar Gas Ltd (MGL) has raised the price of compressed natural gas (CNG) in Mumbai by ₹1.5 per kg, effective November 15. This marks the sixth increase since May 14, bringing the cumulative rise to ₹9.5 per kg. The new price stands at ₹91.5 per kg, with this being the second hike in November alone.
The price adjustment comes amid rising input costs for natural gas. MGL cited the ongoing Middle East crisis and reduced domestic gas allocation as key factors driving up procurement expenses. The company also noted increased reliance on imported regasified liquefied natural gas (RLNG), which is linked to international benchmarks and has a higher cost.
In a statement, MGL explained that the strong demand for CNG, coupled with a higher share of imported gas in its input mix, has significantly increased costs, particularly for the CNG segment. The uncertainty in West Asia and the loss of supplies from Qatar, a major LNG producer, have further complicated gas procurement.
This price hike follows a similar move by privately-owned Adani Total Gas, which has increased CNG prices by ₹6.75 per kg across two tranches since October 23.