Prices of LPG have come down across Pakistan on account of lower LPG prices by producers and lower demand, according to the LPG Association of Pakistan (LPGAP) on Wednesday. LPG producers JJVL, PARCO and OGDCL announced 8.8 per cent reduction in their base-stock prices in accordance with the prevailing LPG Producer Pricing Policy.
The LPG producer price has come down from an average of Rs 46,499 per metric tonne (inclusive of taxes) in February to Rs 42,392 per metric tonne (inclusive of taxes) in March, Fashi Ahmad LPG producer told Business Recorder here on Wednesday.
Under the existing policy, LPG producers cannot charge more than the given month's published Saudi Aramco Contract Price, he said, adding that the fall in prices across the value-chain is not an unnatural phenomenon, instead it depends on the LPG business." he maintained.
He further said that prices of LPG marketing companies have been falling since the middle of February on account of restoration of natural gas supplies and lower demand, and LPG is now retailing at around Rs 65 per kilogramme in most parts of the country. Pakistan imported 10,500 metric tonnes of product in January, while 5,000 metric tonnes in February.
Comments
Comments are closed.