Daijiworld Media Network – Mumbai

Mumbai, May 14: State-run Mahanagar Gas Limited (MGL) on Thursday increased the price of compressed natural gas (CNG) by Rs 2 per kg, taking the revised rate to Rs 84 per kg across Mumbai, Thane, Navi Mumbai and other areas of the Mumbai Metropolitan Region (MMR).

The revised rates came into effect from May 14, 2026. Earlier, CNG was priced at Rs 82 per kg.

The latest hike comes amid continued volatility in global energy markets following the ongoing Iran-US conflict, which has disrupted energy supply chains across West Asia. Brent crude oil prices have also remained above USD 105 per barrel in recent days amid declining global inventories and rising tensions in the Middle East.

This is the second major revision in recent weeks after MGL had earlier increased CNG prices on April 12.
Following the price hike, auto-rickshaw unions in Mumbai reportedly demanded an increase of at least Re 1 in base fares, citing rising fuel and operational costs.

Union representatives stated that repeated increases in CNG prices were making it difficult for drivers to continue operating at existing fare rates.

According to available estimates, more than 12 lakh vehicles in Mumbai run on CNG, including nearly 4.7 lakh auto-rickshaws, around 1.6 lakh taxis and over five lakh private vehicles.

The development also comes shortly after Prime Minister Narendra Modi appealed for austerity measures, urging citizens to reduce the use of fuel-driven vehicles while reportedly downsizing his official convoy.

Meanwhile, MGL shares witnessed gains during Thursday’s trading session after four consecutive days of decline.

The stock opened at Rs 1,055.65 against the previous close of Rs 1,043.40 on the Bombay Stock Exchange (BSE) and later touched an intraday high of Rs 1,072.25.

At the latest update, MGL shares were trading at around Rs 1,061, registering a gain of nearly 1.69 per cent, with the company’s market capitalisation standing at over Rs 10,480 crore.