Mumbai, May 30. Compressed Natural Gas (CNG) prices have been increased in the Mumbai Metropolitan Region (MMR). On Saturday, Mahanagar Gas Limited (MGL) raised CNG prices by 2 rupees per kilogram, bringing the retail rate to 86 rupees per kilogram.
The new prices will apply in Mumbai, Thane, Navi Mumbai, and other areas serviced by the company. This is the second price hike for CNG this month; earlier, MGL had increased prices by 2 rupees per kilogram on May 14.
Note that the company has also increased piped natural gas (PNG) rates for cooking by 50 paise per unit in the MMR.
The price increases are due to ongoing pressure in international energy markets and supply disruptions caused by the ongoing conflict in West Asia.
In recent weeks, petrol and diesel prices have also increased, as state-owned oil marketing companies have passed on the impact of rising global crude oil prices to consumers. In Mumbai on Saturday, petrol was priced at 111.21 rupees per liter and diesel at 97.83 rupees per liter.
Meanwhile, the central government has directed state-owned fuel retailers to strengthen their liquefied petroleum gas (LPG) reserves to ensure adequate supply. Oil marketing companies have been asked to maintain LPG stocks equivalent to at least 30 days of domestic demand.
The Ministry of Petroleum and Natural Gas reported earlier this week that, following government directives, public sector oil companies are currently incurring losses of up to 550 crore rupees per day on the sale of petrol, diesel, and LPG.
This is because they have not passed on the full extent of the global price increase to domestic consumers to protect them.
The ministry stated that supplies of crude oil, petrol, and diesel remain adequate, but panic buying has led to shortages in some areas.
