Mumbai's CNG Price Surges To Rs 86 Per Kg After MGL's Second Price Hike

Mahanagar Gas Limited, a natural gas distribution major, has elevated the price of compressed natural gas (CNG) to Rs 86 per kg across the Mumbai Metropolitan Region by Rs 2 per kilogram.

The rise is the second since the Rs 2 per kg on 14 May.

The increased rate applies across Mumbai, Thane, Navi Mumbai, and surrounding areas.

MGL also supplies CNG to Kalyan, Raigad, Ratnagiri, Chitradurg, Davengere, Latur, and Osmanabad.

Petrol, Diesel Prices Surge In Mumbai

The CNG price hikes came alongside a rise in both petrol and diesel prices. After the last fuel price hike this month, petrol price rose by Rs 2.61 per litre, while diesel rates rose by Rs 2.71 per litre.

In Mumbai, petrol rate stood at Rs 111.21 per litre, while diesel prices stood at Rs 97.83 per litre.

The successive rise indicates a pass through of the heightened crude oil prices since the Iran-US War began.

Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited, which collectively control approximately 90 per cent of the domestic fuel retail market, have raised petrol and diesel prices by around Rs 7.50 per litre since 15 May.

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Government Orders 30-Day LPG Reserves As West Asia Conflict Strains Supply Chains

The central government has directed state-run fuel retailers to expand liquefied petroleum gas storage capacity to cover at least 30 days of domestic demand, citing supply vulnerabilities exposed by the ongoing West Asia conflict.

"We are working on the strategic reserves. Oil marketing companies have been asked to work out (a plan) to have LPG reserves for a minimum of 30 days with them, and they are working on it," Sujata Sharma, Joint Secretary in the petroleum ministry, told reporters on Friday.

The directive covers Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum, each of which has been asked to develop plans for additional storage above existing commercial inventories. Sharma added that the government was also reviewing options to expand crude oil storage capacity, without providing further detail.