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Commodities

MGL Slashes Mumbai CNG Prices Amid Middle East Crisis

Guavy AI Editorial Team
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Natural Gas
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The Mahanagar Gas Limited (MGL) has increased the price of Compressed Natural Gas (CNG) by Rs 2 per kg and domestic piped natural gas (PNG) by Rs 1 per standard cubic metre (SCM) in Mumbai.

The new CNG price stands at Rs 88 per kg, effective September 1. The hike is attributed to the Middle East crisis, which has resulted in a significant increase in input gas prices linked to international indices.

MGL stated that rising demand for CNG and increased costs due to imported spot regasified liquefied natural gas (RLNG) are other factors behind the price revision. The Rs 2 price hike will only cover part of the increasing input costs, according to MGL.

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