MGL Hikes CNG Prices By Rs .1.50 Per Kg In Mumbai, New Rate Effective November 15

Mumbai, Nov 14 (UNI) Mahanagar Gas Limited (MGL) has raised the price of Compressed Natural Gas (CNG) by Rs1.50 per kg in Mumbai and adjoining areas, taking the revised retail price to Rs .91.50 per kg from Sunday, November 15. The revised rates will come into effect from midnight on Saturday. The increase comes amid mounting pressure on the company's gas procurement costs, which MGL has attributed to developments in the Middle East, lower allocation of domestic natural gas and greater reliance on imported Regasified Liquefied Natural Gas (RLNG). In a statement, the company said the price adjustment was necessary…