Mahanagar Gas Limited (MGL) announced a Rs 2 per kilogram increase in the price of Compressed Natural Gas (CNG) in Mumbai and its surrounding areas, effective November 22, 2024. This adjustment raises the CNG price from Rs 75 to Rs 77 per kilogram.
Rising input costs, including the procurement of natural gas and other operational expenses, drive the price hike. In July 2024, MGL raised CNG prices by Rs 1.50 per kilogram, when the price increased to Rs 75 per kilogram, in response to similar cost pressures.
This move is part of a broader trend across the industry, as city gas distribution companies nationwide have been adjusting prices to cope with escalating input costs. For example, Indraprastha Gas Limited (IGL) raised CNG prices by Rs 1 per kilogram in June 2024 in Delhi, bringing the price to Rs 75.09 per kilogram.
Despite the hike, CNG remains an affordable and environmentally friendly alternative to traditional fossil fuels. MGL continues to prioritize its commitment to providing reliable and sustainable energy solutions to customers in Mumbai and surrounding areas.