ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has increased the price of Liquefied Petroleum Gas (LPG) by Rs 21 per Kilogram for the month of October, 203 and issued a notification in this regard.
According to OGRA notification, LPG price has been increased from Rs.240 to Rs.261 per kg, domestic cylinder price from Rs.2833 to Rs.3080 and commercial cylinder price from Rs.10902 to Rs.11849 for the month of October, 2023.
The price of domestic cylinders has increased by Rs 246 and the price of commercial cylinders rose by Rs 947, effective from October 1st, 2023.
The new pricing structure, in accordance with the policy guidelines of the federal government, indicates a notable surge in LPG rates, impacting both producers and consumers.
According to the latest determination, the notified LPG producer prices have seen a considerable hike. In September 2023, the price of LPG was Rs. 198,826.33 per ton, which has now risen to Rs. 219,686.69/ton in October 2023. This increase of Rs. 20,860.36 per ton (Rs. 246.15 per 11.8 kg cylinder) reflects a substantial 8.7% rise in prices.
Similarly, the LPG consumer prices have also experienced a sharp uptick. From Rs. 240,126.33 per ton in September 2023, the price of LPG has climbed to Rs. 260,986.69/ton in October 2023. This increase, amounting to Rs. 20,860.36 per ton (Rs. 246.15 per 11.8 kg cylinder), signifies an 8.7% surge.
It is pertinent to mention that the driving force behind this notable price hike is the linkage between the LPG producer price and the Saudi Aramco-CP as well as the US dollar exchange rate. In comparison to the previous month, the Saudi Aramco-CP has escalated by 9.53%, and the average Dollar exchange rate has risen by 1.15%. These factors have resulted in the consumer price of LPG surging by Rs. 246.15 per 11.8 kg cylinder, translating to an 8.7% increase.