KARACHI: The international price of liquefied petroleum gas (LPG) has jumped by $ 139 to record high at $ 1,031 per ton for February 2012, raising its import price by Rs 15,000 to Rs 108,930 per ton, the highest ever in country's history.
This was stated by the chairman of FPCCI Standing Committee on LPG and All Pakistan LPG Distributors Association (APLDA) Abdul Hadi Khan here Tuesday.
He said Saudi Armco Contract Price (CP) has surged to record high due to surge in prices of butane by $ 160 per ton while propane is up by $ 130 per ton.
Hadi pointed out that domestic price of LPG will be increased by Rs 15 per kilo, 11.8 kilo cylinder by Rs 170 and 45.4 kg cylinder by Rs 681 if the local producers also enhanced their price in accordance with its international price.
He warned local producers to refrain from increasing local prices of LPG as its prices were already high in the country, suppressing its sales to 70 percent. "This will further reduce LPG sales by 30 to 40 percent", he added.
He pointed out that commercial auto sector was abandoning LPG and switching fast to other fuels due high prices of LPG.
He urged the Petroleum Minister to stop local producers from raising LPG prices and introduce the mechanism for imposing heavy fines if they violate the orders.
Hadi said that long associated stakeholders are concerned over the rising LPG prices and as only 35 out of 85 marketing companies are active in the market.
He said that only 15,000 metric tons of LPG has been imported in the current month keeping in view the worst ever gas crisis in the country.
Hadi noted that a healthy balance has been created due to imports in the country, but stakeholders also wish that not only sales should be improved but LPG must come in the range of common consumers.
Comments
Comments are closed for this article.