By Faisal Kamal Pasha

ISLAMABAD, Aug 17 (INP-WealthPK): Due to decline in the value of US dollar against Pak rupee, the price of liquefied petroleum gas (LPG) decreased by Rs10 per kilogram.

Moreover, an excessive amount of LPG, previously held by the stockists, has been released into the market.

LPG is an essential commodity for the household use in the areas devoid of gas supply, and it is also a lifeline for small businesses associated with food catering. Now the price of domestic gas cylinder has gone down by Rs120, while that of commercial cylinder dropped by Rs450.  

Chairman of LPG Association Irfan Sheikh while talking to WealthPK stated that Pakistan imports 50% to 60% of its LPG, and most of the LPG comes from Taftan border where importers pay the price in US dollars.

On August 1, US dollar rate was 238.84 against Pak rupee which is currently at 218.

With a reduction of almost Rs20 in the price of dollar, now the price of LPG in the open market has come at par to the price fixed by the Oil and Gas Regulatory Authority (OGRA) that is Rs218 per kilogram.

Irfan Sheikh said that from August 1, the LPG retailers were over pricing the commodity, receiving more than the price fixed by the government.

“Now in case of over pricing, the consumers should complain to OGRA,” he said.

Credit: Independent News Pakistan-WealthPk