Latest updates on Mahanagar Gas price hike: Mahanagar Gas has once again increased the retail price of CNG (Compressed Natural Gas) and PNG (Piped Natural Gas) in the city of Mumbai. Read the complete article to know all about the new prices.
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Mahanagar Gas Price Hike in Mumbai upsets common man
With price of every essential commodity rising frequently, it becomes increasingly difficult for the common man to run the family. Mahanagar Gas has increased the price of PNG and CNG in Mumbai. This is the second instance of Mahanagar Gas price hike within a time period of one month. This time, the company has raised the price by Rs. 6 per kg for Compressed Natural Gas and by Rs. 4 per unit for PNG.
The multiple price revisions are directly connected to the ever-increasing prices of natural gas in the global market. Rising prices have compelled the distributors and suppliers to reduce industrial supplies for the past few weeks. Since April, this is the sixth time that people of Mumbai witnessed the Mahanagar Gas price hike.
MGL Justification for the price hike
MGL justified the price increase in the following words: “Due to the significant increase in input gas cost, we have decided to recover the cost. Accordingly, we’ve increased the retail price of CNG (Compressed Natural Gas) to Rs. 86 (per kilogram) and domestic PNG (Piped Natural Gas) by Rs. 4/SCM (standard cubic meter) to Rs. 52.50 in and around Mumbai, effective from this midnight.” When MGL increased the price the last time, the company made a similar statement: “Being a customer focused Company, MGL has always tried to maintain price stability for its customers. However, since the increase in input gas price is significantly high, MGL has decided to progressively recover such increased gas cost.”
The previous Mahanagar Gas price hike took place on 12th July, 2022 when the hike was of Rs. 6 per kg on CNG and Rs. 3/SCM on PNG. Between 1st April, 2022 and the current date, the Central Government has enhanced the price of imported and domestic natural gas by more than 110 per cent. The Centre majorly controls the prices and supply of natural gas. The April 1 increase will be valid till the end of September and from Oct 1, the next revision will be declared.
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