Mumbai's CNG Price Hikes by Rs 2/kg Amid Ongoing Middle East Crisis

Mahanagar Gas Ltd (MGL), Mumbai's CNG and piped city gas distributor, has increased the price of compressed natural gas (CNG) by Rs 2 per kg in Mumbai and other operating areas. The revised CNG price in and around Mumbai will be Rs 88 per kg, according to a statement from MGL.

The hike follows Indraprastha Gas Ltd (IGL) hiking CNG price in Delhi by Rs 3.89 per kg to Rs 86.98 per kg. This is the fifth increase in CNG prices this year for IGL, with the cumulative rise now standing at nearly Rs 10 per kg.

MGL cited a sharp increase in input gas costs following the ongoing crisis in the Middle East as the reason for the price hike. The company said it has had to source more gas at higher spot RLNG prices to meet demand, which has substantially increased its input costs.