Mahanagar Gas Limited (MGL) has announced a Rs 2 per kg hike in the price of Compressed Natural Gas (CNG), effective from November 22nd 2024. The new price of CNG in Mumbai and its surrounding areas will be Rs 77 per kg, up from Rs 75 per kg.
This price revision is attributed to the increase in the cost of natural gas procurement and other rising expenses. Despite the hike, CNG users in Mumbai will still save approximately 49% compared to petrol and 14% compared to diesel at current price levels.
MGL has stated that the allocation of APM gas to the company has reduced by around 18% effective November 16, 2024. To meet the shortfall, MGL is sourcing additional market-priced natural gas, resulting in higher gas costs.
CNG prices were last raised in July 2024 by Rs 1.50 per kg. With the latest revision, CNG prices in Mumbai have reached Rs 77 per kg.
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