Mumbai, May 30 (IANS) Compressed natural gas (CNG) prices in Mumbai Metropolitan Region (MMR) rose after Mahanagar Gas Limited (MGL) on Saturday hiked prices by Rs 2 per kilogram, taking the retail rate to Rs 86 per kg. The revised price applies across Mumbai, Thane, Navi Mumbai and other areas served by the company. The CNG rate hike is the second one this month, after MGL raised rates by Rs 2 per kg on May 14.The company has also raised the rate of piped cooking gas by 50 paise per unit in MMR.Continued pressure on international energy markets and supply disruptions linked to West Asian conflict has caused the price hike. Petrol and diesel prices have also climbed in recent weeks as state-run oil marketing companies passed on the impact of higher global crude oil prices to customers. In Mumbai, petrol prices stood at Rs 111.21 per litre on Saturday, and diesel prices at Rs 97.83 per litre.

Meanwhile, the Central government has directed state-run fuel retailers to strengthen liquefied petroleum gas (LPG) reserves to ensure adequate supplies. Oil marketing companies have been urged to maintain LPG stocks equivalent to at least 30 days of domestic demand.Under the direction of the government, the public sector oil companies are currently absorbing losses on the sale of petrol, diesel, and LPG to the tune of Rs 550 crore per day as they have refrained from passing on the full increase in global prices to protect domestic consumers, the Ministry of Petroleum and Natural Gas said earlier this week.The ministry said supplies of crude, petrol and diesel remained adequate but flagged localised shortages due to panic buying.The government has already cut petrol and diesel excise by Rs 10 per litre on March 27, 2026, and Indian retail prices have risen by only 8 to 9 per cent since the crisis began, against 20 to 67 per cent in neighbouring economies.

/IANS