KARACHI – The price of Liquefied Petroleum Gas (LPG) saw a whooping cut of Rs70 per kilogramme in Pakistan as three more ships carrying imported LPG docked at Karachi port.
LPG price has now dipped to Rs180 per kg from previous Rs270 amid hopes of further decline as the country has stored sufficient quantity of the gas.
After the three ships reached Karachi, the Oil & Gas Development Company (OGDCL) has reduced the production cost due to surplus.
Chairman LPG Distributors Association Irfan Khokar said that another ship carrying LPG is expected to reach Pakistan in next two or three days, predicting that prices would further decrease in the country.
He alleged that the OGDCL has reduced the cost to give favour to a bunch of people.
Meanwhile, the federal government is expected to announce reduction in prices of all petroleum products, potentially lowering them by up to Rs5 per litre effective June 1.
Reports in local media claimed that Oil and Gas Regulatory Authority (OGRA) proposed a reduction in petrol prices by Rs5.27 per litre.
The price of petrol will drop from Rs273.10 to Rs267.83. Additionally, it has been proposed to decrease the price of high-speed diesel by Rs4.13 per litre and light-speed diesel by Rs5 per litre.
