LPG price hits record high of Rs118,429 per ton

KARACHI: Local producers have raised price of liquefied petroleum gas (LPG) by Rs5353 to a record high of Rs118,429 per ton in accordance with Saudi Aramco Contact Price.

This was stated by the chairman of FPCCI Standing Committee on LPG and Pattern in Chief of All Pakistan LPG Distributors Association (APLDA) Abdul Hadi Khan here Saturday.

He said Saudi Armco Contract Price (CP) has surged to record high due to increase in prices of butane by $ 140 per ton while propane is up by $ 220 per ton.

Hadi pointed out that domestic price of LPG has been increased by Rs5 to Rs135-145 per kilo, 11.8 kilo cylinder by Rs66 to Rs1520-1580 and 45.4 kg cylinder by Rs243 to Rs5850-6075.

Expressing serious concern over this rise, Hadi said that distributors will protest agaisnt this rise and said an emergency general body meeting of APLDA has been convened for next week to prepare a line of action against the government and local producers.

He said that 6000 distributors will hold protest rallies and block gas fields and refineries over this rise.

He said LPG sale has declined by 49 to 50 percent due to high prices, further shrinking the business of more than 6000 LPG distributors in the country and their survival is in danger.

He urged Petroleum Minister to reduce dependance on imported LPG and concentrate on enhancing local production.

Copyright APP (Associated Press of Pakistan), 2012