India, Sept. 1 -- Mahanagar Gas Limited (MGL) has announced a hike in CNG and domestic PNG prices in Mumbai and nearby areas. The revised rates came into effect from midnight on September 1, with CNG becoming costlier by Rs 2 per kg and PNG by Re 1 per standard cubic metre. Following the revision, CNG will cost Rs 88 per kg in and around Mumbai.

Why Has MGL Increased CNG Prices?

MGL cited a sharp rise in the cost of natural gas available through international markets. The company said the ongoing Middle East crisis has pushed up prices linked to global gas benchmarks, increasing its input costs. MGL also pointed to sustained demand for CNG. A significant portion of the gas supplied to the CNG segment comes from imported spot regasified ...