CNG Prices For Mumbai And Mumbai Metropolitan Region Reduced By MGL

The downward revision will come into effect from midnight of March 5/6, and now the new prices of CNG will be Rs 73.40 per kg.

Mumbai: The Mahanagar Gas Ltd (MGL) on Tuesday announced a reduction in CNG prices by Rs 2.50 per kg by to Rs 73.40 per kg for Mumbai and Mumbai Metropolitan Region. The downward revision is effective from midnight of March 5/6, MGL has said.

This new rate offers attractive savings of 53 percent, compared to petrol, and 22 percent, compared to diesel, at current price levels in Mumbai.

"This reduction in CNG price would help to increase the consumption of natural gas in the transportation segment while delivering unmatched convenience, safety, reliability, and environmental friendliness to consumers, and taking a step towards making India cleaner and greener," MGL has added.

Meanwhile, three state-owned fuel retailers -- Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -- that control roughly 90 percent of the market, have not changed petrol and diesel prices for 20th month in a row.

Petrol in the national capital costs Rs 96.72 a litre while diesel comes at Rs 89.62 per litre.

On the other hand, the prices of CNG was last reduced in April 2023. The decision had come after the government introduced a new pricing formula of natural gas, which was the first such reduction in two years.