In a significant development for Pakistani consumers, the price of Liquefied Petroleum Gas (LPG) has been slashed by Rs70 per kg, bringing the new price down from Rs250 to Rs180 per kg. This substantial reduction was confirmed by Irfan Khokhar, Chairman of the LPG Distributors Association.
Key Reasons for the Price Drop
The decrease in LPG prices can be attributed to the arrival of three LPG ships at Karachi port, which led to a reduction in production costs by the Oil and Gas Development Company Limited (OGDCL).
Khokhar elaborated, “OGDCL reduced production costs as soon as three LPG ships reached Karachi port. Another ship of LPG will reach Pakistan in two or three days. LPG prices will come down further as the new ship arrives.”
Future Price Expectations
Consumers can anticipate additional price reductions in the near future. With another LPG shipment expected to arrive within a few days, further price drops are likely. This is a welcomed relief for households and businesses that rely on LPG for cooking and heating.
Official Notification and Compliance
The Oil and Gas Regulatory Authority (Ogra) will release an official notification of the new LPG prices on June 1. An Ogra spokesperson emphasized, “If someone sells at a lower price than the Ogra price, then it is his own will. No distributor can sell LPG at higher rates.”
This regulation ensures that consumers benefit from the reduced prices, and any attempt to sell at higher rates will be against regulatory guidelines.
The reduction in LPG prices marks a significant relief for Pakistani consumers. With the anticipation of further price decreases, the move underscores the impact of increased LPG imports on local pricing. Stay tuned for the official price notification from Ogra on June 1.
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