Mahanagar Gas Ltd. announced a significant drop in the price of Compressed Natural Gas (CNG) in Mumbai and its surrounding areas. The new price, inclusive of all taxes, is now set at 87 INR/kg, which represents a decrease of 2.50 INR/kg in the city.
This is the first price reduction since April 2022. Besides, four months ago, MGL announced a price hike of 6 INR/kg due to a 40% increase in input costs by the government and a cut in supply.
This cut would provide much-needed relief to over 3 lakh private car owners and CNG-powered vehicles in the Mumbai Metropolitan Region. Furthermore, this would give assistance to auto and taxi drivers, who the recent spike has heavily struck in natural gas prices. Every day, over 5 lakh public vehicles, including autos and taxis, depending on CNG.
However, currently, the price of natural gas will remain unchanged at 54 INR per unit for households with piped cooking gas connections. MGL, supplies piped gas to close to 20 lakh households in Mumbai, Navi Mumbai, Mira Road, Bhayandar, and its surrounding areas.