Pune: The Maharashtra Natural Gas Limited (MNGL) has announced ₹1.10 per kilogramme hike in compressed natural gas (CNG) price. It is the fourth increase in 2024, bringing the total hike for the year to ₹5.50 per kilogramme.
MNGL press release on Saturday stated that the CNG revised retail price will be ₹89 per kg from December 28, 2024.
The gas distribution company has cited fluctuations in the global energy market and rising costs of imported natural gas as reasons for the price hike. Despite the increase, CNG remains over 40% cheaper than petrol and more than 20% cheaper than diesel.
The firm absorbed a portion of the price increase to minimise the impact on customers. The revised price includes excise duty and state VAT and reflects just 15% of the total cost hike, according to the press release.