State-run gas distributor Mahanagar Gas Limited (MGL) has increased the price of Compressed Natural Gas (CNG) by Rs 2 per kilogram across the Mumbai Metropolitan Region (MMR), effective immediately.
With the latest revision, CNG will now cost 86 per kilogram in , Thane, Navi Mumbai and adjoining areas.
This is the second hike in less than a month, following a similar Rs 2 per kilogram increase announced on May 14. The cumulative Rs 4 rise is expected to impact daily commuters, taxi operators and commercial vehicle users who rely heavily on CNG.
The YMGL has not yet detailed the reasons behind the latest price revision.
This comes just days after , taking the retail price to Rs 83.09 per kg on May 26. The revision marked the fourth increase within 11 days and the third hike in just nine days, with cumulative CNG prices in the national capital rising by Rs 7 per kg since May 15.
The series of revisions began with a Rs 2 per kg increase on May 15, followed by hikes of Rs 1 per kg each on two separate occasions in the succeeding week. Despite the rise in CNG prices, rates of piped natural gas (PNG) for households and domestic LPG cylinders remain unchanged.
The fuel price revisions come amid sustained pressure from rising global crude oil prices. Industry experts attribute the surge to growing concerns over potential disruptions in the Strait of Hormuz, a critical route for global oil shipments, amid heightened tensions involving the US and Iran.
The repeated increases are expected to raise operating costs for commuters, transporters and businesses, with analysts warning that higher transportation and logistics expenses could eventually translate into increased prices of essential goods and food items.
Government officials, however, maintain that the price adjustments are necessary to offset rising import costs and ensure uninterrupted fuel supplies during a period of geopolitical uncertainty.
As India imports nearly 85 per cent of its crude oil requirements, domestic fuel prices remain highly vulnerable to fluctuations in international energy markets.