KARACHI: The international price (Saudi Aramco Contract Price) of liquefied petroleum gas (LPG) has declined by $ 130 to $ 740 per ton for May 2012, slashing local prices by Rs 12,000 to Rs 94,000 per ton.
This was stated by Chairman of FPCCI Standing Committee on LPG and All Pakistan LPG Distributors Association (APLDA) Abdul Hadi Khan here Wednesday.
He said that domestic price of LPG will be decreased by Rs 12 per kilo in local production bring down their prices in accordance with the fall in Saudi Aramco CP.
Hadi pointed out that 11.8 kilo cylinder will be decreased by Rs 140 and 45.4 kg cylinder by Rs 545.
He said that the news of LPG Contract Price cut, circulated in the media three days ago was fabricated. The adjustment in Saudi Aramco CP is announced at the end of every month while local producers take their decision on prices on the 3rd day of every month.
He noted that local producers should also announce price on June 3 in accordance with the decline in Saudi Aramco CP and must enhance local production from 800 tons per day to at least 1500 tons per day. This will ensure the availability of sufficient LPG in the country at economical prices.
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