LPG prices go up in Pakistan

LPG prices go up in Pakistan

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has announced an increase in the price of liquefied petroleum gas (LPG) by Rs1.17 per kg for February 2024, adding to the woes of the consumers who are already burdened by high inflation.

According to the notification issued by OGRA on Wednesday, the new price of LPG per kg has been fixed at Rs257.60, up from Rs256.43 in January. This means that the price of a domestic cylinder of 11.8 kg has gone up by Rs13.76, from Rs3,026.24 to Rs3,040.

The new prices of LPG will be effective from February 1, 2024.

LPG is widely used as a cooking fuel in Pakistan, especially in rural areas where natural gas is not available. It is also used by some industries and commercial sectors.

The LPG price hike has been met with criticism and resentment by the consumers, who say that it will further increase their cost of living and affect their budget.

“This is unfair and unjust. The government should provide relief to the people instead of increasing the prices of essential commodities,” said Muhammad Aslam, a resident of Islamabad.

He said that he uses LPG for cooking and heating purposes, and the price hike will affect his monthly expenses.

“I don’t know how I will manage my household budget with this increase. The government should control the prices of LPG and other items,” he said.

Some LPG dealers and distributors have also expressed their dissatisfaction with the price hike, saying that it will affect their business and reduce their profit margin.

They said that the LPG price in Pakistan is already higher than the international market, and the increase will make it more uncompetitive.

They also claimed that there is a shortage of LPG supply in the country, and the government should take steps to ensure its availability and affordability.

According to the LPG Association of Pakistan, the country’s demand for LPG is around 1.8 million tonnes per year, while the local production is only around 0.9 million tonnes. The rest is imported from various sources, including Saudi Arabia, Iran, Qatar, and Oman.

The association has urged the government to rationalize the LPG pricing mechanism and provide incentives to the local producers and importers to boost the LPG sector and meet the growing demand.

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