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Business News›Industry›Energy›Oil & Gas›CNG price hike: Mahanagar Gas increases rates by Rs 2 per kg, domestic PNG by Rs 1/SCM

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CNG price hike: Mahanagar Gas increases rates by Rs 2 per kg, domestic PNG by Rs 1/SCM
Synopsis

Mahanagar Gas announced price increases for CNG and domestic piped natural gas. CNG prices rose by Rs 2 per kg and PNG by Rs 1 per SCM. These revisions are attributed to escalating input gas costs from Middle East tensions. The company stated this hike will partially offset rising expenses and ensure supply. This price adjustment affects numerous vehicles and domestic consumers across several regions.

Mumbai: Mahanagar Gas on Monday announced a hike in CNG prices by Rs 2 per kg and domestic piped natural gas (PNG) by Rs 1 per standard cubic meter (SCM) citing a rise in input costs due to the Middle East tensions.



The new price of Compressed Natural Gas (CNG) will be Rs 88 per kg in and around Mumbai, effective from midnight on September 1, an official statement said.



Also read: CNG price hiked by Rs 3.89/kg in Delhi-NCR amid West Asia crisis; check city-wise rates

"In view of the ongoing crisis in the Middle East, which has resulted in a significant increase in input gas prices linked to international indices, MGL has announced a revision in the prices of CNG," the statement said.



There is "significant demand" for CNG and a major portion of input gas for the CNG segment is being met through imported spot RLNG (Regasified Liquefied Natural Gas) where the prices are higher, it said.




Price hike in CNG will only partially offset the rising cost of input gas and ensure continued and sustained supply of CNG to customers, MGL said.

Some 13 lakh CNG vehicles in Mumbai, Thane, Raigad, Ratnagiri, Latur and Dharashiv in Maharashtra and Chitradurga and Davangere in Karnataka depend on MGL's supply network.

On the domestic PNG front, the same jump in input costs resulted in a Rs 1 hike per SCM of gas for the 30 lakh domestic consumers.



The announcement comes days after Indraprastha Gas, its peer serving the national capital region and surrounding areas, hiked CNG prices by Rs 3.89 per kg to Rs 86.98 a kg due to rise in input costs.

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