CNG Price Hike in Mumbai: MGL raises rates by Rs 2/kg to Rs 84, auto unions seek fare hike

CNG Price Hike in Mumbai: State-run gas distributor Mahanagar Gas Limited (MGL) on Thursday increased compressed natural gas (CNG) prices across the Mumbai Metropolitan Region (MMR) by Rs 2 per kilogram, taking the retail price to Rs 84 per kg with immediate effect.

The revised rates, effective from May 14, 2026, will apply across Mumbai, Thane, Navi Mumbai, adjoining municipalities and Raigad district. Prior to the hike, CNG was priced at Rs 82 per kg.

According to the company, the latest revision has been carried out due to rising input costs and prevailing market conditions.

Auto unions seek base fare hike by Re 1

The increase in fuel prices has triggered fresh demands from auto-rickshaw unions for a fare revision. Union representatives said repeated hikes in CNG prices were putting pressure on drivers’ earnings and increasing operational costs.

Auto unions have demanded at least a Re 1 increase in the base fare and urged authorities to take an early decision on the matter. They argued that it was becoming increasingly difficult for drivers to continue operations under the existing fare structure.

CNG Price Hike: What it means for daily commuters?

The price hike is expected to impact daily commuters across the Mumbai Metropolitan Region, where CNG remains one of the primary fuels used by auto-rickshaws, taxis and several public transport vehicles.

Earlier this month, the government had stated that the country has adequate stocks of petroleum products and that domestic LPG supplies remain stable.

MGL financial results 2026

Mahanagar Gas Limited reported a 46.3 per cent year-on-year (YoY) decline in consolidated net profit at Rs 130 crore for the fourth quarter of FY26, compared to Rs 241 crore in the corresponding quarter last fiscal.

The company’s revenue from operations rose 4.5 per cent YoY to Rs 2,052 crore in the January–March quarter, up from Rs 1,964 crore a year earlier.

EBITDA (earnings before interest, taxes, depreciation and amortisation) declined 34.2 per cent YoY to Rs 260 crore in Q4 FY26 from Rs 395 crore in Q4 FY25. EBITDA margin narrowed to 12.7 per cent during the quarter, compared to 20.1 per cent in the year-ago period.

MGL also recommended a final dividend of Rs 18 per equity share with a face value of Rs 10 each for FY26, subject to shareholders’ approval.

This comes in addition to the interim dividend of Rs 12 per share announced in February 2026, taking the company’s total dividend payout for the financial year to Rs 30 per equity share.

MGL share performance

Meanwhile, shares of Mahanagar Gas Limited rose nearly 3 per cent during morning trade on Thursday, touching an intraday high of Rs 1,072 on the BSE. The stock has recorded a 52-week high of Rs 1,586 and a 52-week low of Rs 902.

MGL shares closed at Rs 1,067 on Thursday's trading session, up 23.60 points or 2.26 per cent from the previous close, on BSE.