MGL increases CNG and PNG prices in Mumbai -

MGL increases CNG and PNG prices in Mumbai

Mumbai-based city gas distribution company Mahanagar Gas Ltd (MGL) has increased the price of compressed natural gas (CNG) to Rs 75 per Kg and domestic piped natural gas to 48 per standard cubic meter (SCM) in and around Mumbai, the company said on Monday.

These price increases will be effective at midnight of July 08, 2024.

“To meet the increasing volume of CNG and domestic PNG segments and due to further shortfall in domestic gas allocation, MGL is sourcing additional market-priced natural gas (imported RLNG) which has resulted in higher gas cost,” the company said in a press statement.

It added that to partially offset the increase in gas cost, it is constrained to increase the delivered price of CNG by Rs 1.50 per Kg and domestic PNG by Rs 1 per scm in and around Mumbai.

“Even after the above revision, MGL’s CNG offers attractive savings of about 50% and 17% as compared to petrol and diesel respectively at current price levels in Mumbai, while MGL’s Domestic PNG continues delivering unmatched convenience, safety, reliability, and environmental friendliness to consumers,” the company said.

MGL’s scrip ended at Rs 1675.60, down 1.36% on the BSE, Monday.

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