• Source:JND

CNG Price Hike News: The CNG price in the Mumbai Metropolitan Region (MMR) will cost more as Mahanagar Gas announced an increase in CNG by Rs 2 per kilogram. Following the move, CNG prices in Mumbai, Thane, and Navi Mumbai, including the MMR, are at Rs 84 per kilogram. Previously, the price of CNG was Rs 82 per kilogram.

Meanwhile, post the increment in the CNG price, auto unions have reportedly started demanding at least a Rs 1 increase in base fares. According to reports, the demand was made citing rising operating costs, as the union says that rising costs have made it difficult for them to earn a decent living operating their auto-rickshaws at the current fares.

Why were CNG prices increased?

Amid ongoing crisis in Middle East that has caused major energy supply chain disruption, Mahanagar Gas has increased CNG prices due to rising input costs due to rising global gas prices.

In a statement, the company said that the geopolitical disruptions have been affecting the global energy supply chain, as well as increasing dependence on expensive sources of gas.

The rising crude oil prices and the overall depreciation of the rupee have significantly increased the cost of gas procurement, the company noted.

Also Read: Petrol And Diesel Prices May Rise Soon If West Asia Crisis Continues, Warns RBI Governor

Petrol, Diesel Prices May Go Up

Earlier this week, Reserve Bank of India Governor Sanjay Malhotra said the government may have to raise petrol and diesel prices if the West Asian crisis continues for a long time.

Speaking at a conference in Switzerland on Tuesday, Malhotra stressed that the government is acting fiscally prudently and is on the path to economic restructuring.

The West Asian conflict and the blockade of the Strait of Hormuz have disrupted oil and gas supplies, leading to a rise in fuel prices.

India is heavily dependent on fuel and fertiliser imports, and the current disruptions are starting to affect India, Malhotra said.


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