The price of Liquefied Petroleum Gas (LPG) in Pakistan has been cut by Rs70 per kilogram, reducing the cost from Rs270 to Rs180 per kg. This reduction is due to a substantial stockpile of LPG in the country, fueling expectations for further price cuts.
After the arrival of three ships in Karachi, the Oil & Gas Development Company (OGDCL) has lowered production costs owing to the surplus supply. Irfan Khokar, Chairman of the LPG Distributors Association, announced that another LPG ship is expected in the next two to three days, potentially leading to more price reductions. Khokar also alleged that the OGDCL has decreased costs to benefit a select group of individuals.
Meanwhile, the federal government is expected to announce a reduction in prices of all petroleum products, potentially lowering them by up to Rs5 per liter effective June 1. Local media reports indicate that the Oil and Gas Regulatory Authority (OGRA) has proposed Rs5.27 per liter reduction in petrol prices, lowering the price from Rs273.10 to Rs267.83.
Additionally, a reduction of Rs4.13 per liter for high-speed diesel and Rs5 per liter for light-speed diesel has been proposed.
