ISLAMABAD: Liquefied petroleum gas (LPG) market rate has surged by over Rs50 per kilogramme above the Oil and Gas Regulatory Authority’s notified rate with the beginning of Ramazan.

The OGRA set the consumer prices of LPG at Rs257.59 per kilogramme, which puts the official rate for a domestic cylinder of 11.8kg at Rs3,040.As Ramazan has arrived, LPG has seen a significant leap. Contrary to the official rate, the average market price of LPG raised to Rs320 per kg including Murree, Galiyat, and Khyber-Pakhtunkhwa.

The price for domestic cylinders is now between Rs3,700 and Rs4,000 across the country.

Irfan Khokhar, chairman of the LPG Industries Association Pakistan stated that this is open black marketing of LPG, and even the mainstream urban areas are not spared. He also said apart from LPG distributors, even retailers and other stakeholders in the supply chain are benefitting from the situation.

Supply issues have been exacerbated by recent rains in the country’s southwestern region bordering Iran, which has damaged roads and halted the daily import of 400-450 tonnes of LPG from Iran.

An Ogra spokesman repeatedly said the authority has communicated its price notifications to the chief secretaries of all provinces, expecting price magistrates to act against profiteers and ensure market prices remain around the official prices.

Copyright Business Recorder, 2024