OGDCL reduces LPG price by Rs7,000 per tonne: The Oil & Gas Development Company Limited has reduced its base stock price of LPG by Rs. 7000 per ton due to depressed sale and reduced upliftment of LPG by marketing companies. LPG companies had reduced their prices five times in the current month and have been operating at negative margins. This had lead to a severe curtailment in lifting of product from LPG producers who were left with no choice but to reduce their price. “LPG companies are not in a position to reduce their prices any further. However this latest reduction in Producer price will allow them to continue to expand and make investments in the market” said Belal Jabbar the spokesman for the LPG Association of Pakistan. Retail rates are expected to remain stable till the end of the month when the new Saudi Aramco Contract price will be announced. Belal said that LPG prices in different parts of the country would be as follows: Punjab Rs. 115 per kilo, Sindh and Balochistan Rs. 110 per kilo, AJK, Rs. 120 per kilo and Northern Areas Rs. 125 per kilo. “LPG prices have declined by more than 30% since March and are currently at their lowest level since October of last year” said Belal.
LPG prices reduced by Rs 10 per kg: Liquefied Petroleum Gas (LPG) marketing companies decreased LPG prices by Rs 10 per kg and price of domestic cylinder has been reduced to Rs 100 while on commercial cylinder price reduced to Rs 400. This decrease would be implemented immediately. After this decrease in prices new prices of LPG in Karachi would be Rs 100 per kg, Lahore Rs 105, Islamabad and Rawalpindi Rs 115 and Murree Rs 120 per kg. Chairman LPG distribution Irfan Khokhar told that prices of LPG in future would further reduced and in this regard Federal Minister for Petroleum and natural resources Dr Asim has assured to further reduced the prices. He said that another major decrease of Rs 10 to15 is expected on May 03. He said that provision of cheap gas is our top priority. Online
