Mahanagar Gas Limited announces ₹2.50/kg reduction in CNG prices

MGL reduces CNG prices by ₹2.50/kg in Mumbai from March 5-6, promoting natural gas usage. CNG now priced at ₹73.50/kg, offering savings compared to petrol and diesel.

MUMBAI: Mahanagar Gas Limited (MGL) has brought relief to over 10 lakh Compressed Natural Gas (CNG) vehicle owners in Mumbai by announcing a reduction in gas costs, effective from midnight on March 5-6. The CNG price will see a drop of ₹2.50/kg in and around Mumbai, making it a better option for consumers.

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“We are consistently and promptly passing reduction in gas costs to its consumers to promote usage of Natural Gas. The revised price of CNG will be ₹73.50/kg effective from midnight of March 5-6,” said a spokesperson for MGL.

MGL authorities also pointed out that the current CNG price offers savings of 53% compared to petrol and 22% compared to diesel in Mumbai. “This reduction in CNG price would help to increase the consumption of natural gas in the transportation segment, which is a step towards making India cleaner and greener,” added MGL authorities. The reduction is attributed to the lower price of domestically produced High-Pressure High Temperature.

This move comes after auto unions had been demanding fare hikes, considering various factors, including the price of CNG. MGL had previously reduced the CNG price by ₹3 per kg on October 23, bringing it down to ₹76 per kg. The fluctuation in CNG prices played a role in the adjustment of auto and taxi fares for commuters in 2022 when it peaked at around ₹90 per kg. However, in 2023, the price of CNG significantly dropped by ₹14 per kg in the interest of the larger public.