Govt announces marked increase in LPG prices

Bad news for the people already grappling with record inflation as the Oil & Gas Regulatory Authority (OGRA) dropped a bombshell on the consumers on Saturday night by notifying an increase in the liquefied petroleum gas (LPG) prices, reported 24NewsHD TV channel on Sunday.

The revised prices came into effect today (October 1, 2023).

The price of one kilo of LPG upped by Rs20 to increase from Rs240 per kilo to Rs260 per kilo.

Similarly, the price of domestic cylinder went up by Rs246 to jump from Rs2,833 to Rs3,079.

It is pertinent to mention here that Pakistan has received the first batch of 100,000 metric tonnes of LPG from Russia, which entered the country via Iran’s Sarakh’s Special Economic Zone (SEZ).

Notably, this is for the third straight month the government has announced a significant hike in the LPG prices.

The OGRA attributed this consistent increase to the devaluation of the Pakistani rupee against the US dollar and an increase in the prices of Propane and Butane.

The development came on the same day, the caretaker government notified decrease in the prices of petroleum products (POL) for the next fortnight for the first time in two-and-a-half months.

The petrol price came down by Rs8 per liter to reach Rs323.38 per liter while that of diesel by Rs11 per liter to reach Rs318.18 per liter.

The Ministry of Finance, in a statement, said the decision to bring down the price of petroleum products was taken after the Pakistani rupee gained value and POL rates dropped globally.

The government also slashed the rate of kerosene oil by Rs7.53 per liter and light diesel oil by Rs7.77 per liter.

 

Reporter: Awais Kiani