LPG price reduced by Rs70 per kg in Pakistan

KARACHI: The price of Liquefied Petroleum Gas (LPG) in Pakistan has been reduced by Rs70 per kilogram, bringing the new price to Rs180 per kg from the previous Rs270. This decrease is attributed to a sufficient stockpile of the gas in the country, raising hopes for further price cuts.

Following the arrival of three ships in Karachi, the Oil & Gas Development Company (OGDCL) has lowered production costs due to the surplus supply. Irfan Khokar, Chairman of the LPG Distributors Association, announced that another LPG ship is expected to arrive in the next two to three days, which could lead to additional price reductions.

Khokar also claimed that the OGDCL has reduced costs to benefit a select group of individuals.

In the meantime, the federal government is anticipated to announce a reduction in the prices of all petroleum products, potentially lowering them by up to Rs5 per liter effective June 1. Local media reports indicate that the Oil and Gas Regulatory Authority (OGRA) has proposed a Rs5.27 per liter reduction in petrol prices, which would decrease the price from Rs273.10 to Rs267.83. Additionally, a decrease of Rs4.13 per liter for high-speed diesel and Rs5 per liter for light-speed diesel has been proposed.