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LPG price set at $1,175 per ton for December

Saudi Aramco on Thursday announced the Contract Price (CP) for LPG at $1,175 per ton for the month of December, says a press release. The increase in price of $275 per ton from November is witness to the rising demand for LPG as most countries head into the winter season.

Incidentally, the price impact in Pakistan may be as high as $335 per ton as local LPG producers in the month of November maintained the Saudi Aramco CP of October, which was $840 per ton.

"In the event local LPG producers match the December CP, prices could rise by as much as Rs42,725 per ton (Rs42 per kilo inclusive of taxes)," said Belal Jabbar, the spokesman for the LPG Association of Pakistan.

This would translate into an increase of Rs504 for a domestic and Rs 1,940 for a commercial cylinder, which would now be priced at Rs 2,097 and Rs 8,069, respectively.

Similarly, retail rates in different parts of the country would be as follows: Sindh and Balochistan Rs 168 per kilo, Punjab Rs 178 per kilo, AJK and Gilgit Baltistan Rs 188 per kilo.

"We urge the government and LPG producers to maintain their current prices, which should provide some relief to the consumers as only 30 per cent of LPG is imported whilst the remaining is produced locally," said Belal.-PR

Copyright Business Recorder, 2013