The price of liquefied petroleum gas (LPG) is expected to increase by Rs 19 per kilogram following an increase in the international Saudi Aramco Contract Price. According to market sources, the price of the commodity in the international market has been increased by 171 dollars per ton and locally the price of the commodity had been deregulated so local LPG producers are expected to increase its price by Rs 19,000 per ton with effect from September 3.
"The new Saudi CP for September announced at 946 dollars per ton witnessed an increase of 171 dollars per ton than the CP for August. The hike in price has been primarily due to recent surge in oil prices and stockpiling of LPG by energy hungry China and other developing countries," said Belal Jabbar, the spokesman for the LPG Association of Pakistan.
The hike in price of the commodity is likely to increase retail prices by Rs 19 per kg, while the price of domestic and commercial cylinders by Rs 224 and Rs 863 respectively. Retail prices per kilo are expected to increase as follows in different parts of the country: Sindh and Balochistan Rs 129 per kg, Punjab Rs 139 per kg, Azad Jummu and Kashmir and Northern Areas Rs 145 per kg. Belal Jabbar said the government was the largest producer of LPG, so it was the direct and immediate beneficiary of the increase in its prices. "We urge the government and public sector producers to refrain from matching the new Saudi Aramco CP and request them to maintain the current prices for next month in order to provide relief to the consumer," said Belal.
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