ISLAMABAD – The price of the Liquefied Petroleum Gas (LPG) saw a significant decrease in Pakistan following recent reductions in petroleum prices.
After the reopening of the Strait of Hormuz, the per-kilogram price of LPG dropped by Rs20, bringing it to Rs390.
The Oil & Gas Regulatory Authority (OGRA) has set the official price at Rs304 per kilogram. However, in the open market, LPG is still being sold above the official rates.
A day earlier, Prime Minister Muhammad Shehbaz Sharif has approved a significant reduction in diesel prices as part of the government’s effort to provide relief to the public.
According to the approval, the price of diesel has been reduced by Rs. 32.12 per litre, bringing it down from Rs. 385.54 to Rs. 353.43 per litre.
The prime minister stated that the government will ensure that the benefits of reduced petroleum prices are passed on to the public as quickly as possible.
On Friday, Iranian Foreign Minister Abbas Araghchi said under a ceasefire arrangement linked to developments in Lebanon, all commercial vessels would be allowed to transit the Strait of Hormuz for the duration of the ceasefire period.
He added that shipping lanes would operate under pre-coordinated routes established by Iran’s Ports and Maritime Organisation, signaling a controlled reopening rather than an unrestricted surge.
US President Donald Trump publicly welcomed the development on Truth Social, claiming Iran had effectively reopened the strait and declaring it “fully open and ready for full passage”.
