MGL Discontinues PNG, CNG Support Schemes With Immediate Effect

Last Updated:May 25, 2026, 1:12 PM IST

Mahanagar Gas Ltd ends all support schemes and subsidies due to geopolitical pressures and higher gas costs, MGL shares rise, HPCL, BPCL and IOC gain after fuel price hikes

MGL Ends Promotional Spending As Geopolitical Tensions Raise Gas Costs

MGL Share Price: Mahanagar Gas Ltd (MGL) has discontinued all support schemes and subsidies with immediate effect due to the ongoing geopolitical situation and its impact.

The rising global crude oil prices and supply pressure are affecting natural gas costs. Thus, companies such as MGL are taking measures to reduce promotional spending to manage costs.

MGL’s shares traded 2 per cent higher on Monday to Rs 1075.20 per share.

“Due to the ongoing geopolitical situation and its impact, MGL has been constrained to discontinue all support schemes and subsidies with immediate effect,” MGL said in the announcement.

“We understand how this may affect the customers, and we sincerely regret any inconvenience caused. MGL remains committed to delivering safe & reliable PNG and CNG supply across all our operational areas,” it continued.

Shares of oil marketing companies (OMCs), including HPCL, BPCL and IOC, on Monday surged nearly 6 per cent after they hiked petrol and diesel prices for the fourth time in 12 days.

Shares of Hindustan Petroleum Corporation Ltd (HPCL) on Monday surged 5.9 per cent to Rs 412.65 apiece on the NSE in the opening trade. As of 10:20 am, the HPCL stock was up by 4.17 per cent at Rs 406 apiece. Bharat Petroleum Corporation Ltd (BPCL) traded higher by 3.96 per cent at Rs 307.4 apiece, while Indian Oil Corporation rose by 3.73 per cent to trade at Rs 144.65 apiece on the NSE.

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