OGDCL further reduces LPG price

RECORDER REPORT

ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) has further reduced its base stock price of LPG by Rs5,000 per ton due to what it says reduced purchase by the marketing companies and dealers.

With this reduction, the price of LPG’s domestic cylinder has reduced by Rs65 and commercial cylinder by Rs225. The decrease would be implemented immediately.

According to a notification issued on Friday, OGDCL’s new base stock price is Rs65,000 per ton exclusive of duties and taxes, whereas the Saudi Armco Contract Price (CP) is Rs78,000 per ton.

Spokesman for the LPG Association of Pakistan Belal Jabbar said that due to low sale of the commodity, the LPG companies reduced their prices five times in the current month.

“LPG companies are not in a position to reduce their prices any more. However the latest reduction will allow them to expand and make investments in the market,” Jabbar maintained.

He said that retail rates of the LPG were expected to remain stable till the end of current month when the Saudi Aramco Contract price will be announced.

He further said that LPG prices in different parts of the country would be as follows: Punjab Rs105 per kg, Sindh and Balochistan Rs100 per kg, AJK Rs110 per kg and Northern Areas Rs115 per kg.