Mahanagar Gas Limited (MGL) has announced a revision in the pricing of Compressed Natural Gas (CNG) in Mumbai and its surrounding areas, resulting in a Rs 2 rise per kilogram. Following this adjustment, the cost of CNG has now reached Rs 86/kg across Mumbai, Thane, Navi Mumbai, and other regions within the Mumbai Metropolitan Region (MMR).

Recent Price Adjustments

This price hike represents the second increment in slightly over two weeks, having been preceded by a similar increase of Rs 2 per kilogram on May 14. MGL supplies CNG to various locations, including Thane, Navi Mumbai, Kalyan, Raigad, Ratnagiri, and several other areas in Maharashtra such as Chitradurga, Davengere, Latur, and Osmanabad.

Despite the recent rise in CNG prices, this fuel option remains more affordable compared to petrol and diesel in terms of running costs per kilometre. Earlier this week, petrol prices were raised by Rs 2.61 per litre, while diesel saw an increase of Rs 2.71 per litre. This adjustment marks the fourth rise in the price of these fuels in less than two weeks, attributed to the ongoing global oil market volatility.

As a result of these continuous price hikes, petrol is currently sold at Rs 111.21 per litre, while diesel is available for Rs 97.83 per litre in Mumbai. The impetus behind these increases has largely been the elevated global crude oil prices, exacerbated by tensions in the US-Iran relationship.

Government’s Appeal for Fuel Conservation

The Prime Minister’s message aimed to promote a sense of responsibility among citizens, particularly in the wake of rising energy costs. The government has been actively seeking strategies to manage fuel consumption amidst fluctuating international crude oil rates.

In addition, MGL’s hike in CNG prices is viewed in conjunction with the overall trend of increasing fuel prices across various sectors. Stakeholders and residents are keeping a close watch on the evolving situation, mindful of the implications of these changes on daily commuting costs as well as broader economic impacts.

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