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.
“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, Ratnag
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