LPG Price Decrease Pakistan: 0.54% Drop – Ogra Announcement
- Pakistani consumers will see a reduction in liquified petroleum gas (LPG) prices starting September 1, 2024.
- This price adjustment translates to a Rs13.89 reduction for the standard 11.8kg domestic LPG cylinder, now priced at Rs2,527.47.
- Ogra attributes the price change to fluctuations in the international market and currency exchange rates.
LPG Prices decrease for September 2024
Pakistani consumers will see a reduction in liquified petroleum gas (LPG) prices starting September 1, 2024. The Oil and Gas Regulatory Authority (Ogra) announced a new price of Rs214.19 per kilogramme, a decrease of Rs1.18 from the August 2024 rate of Rs215.37 per kg.
Impact on Domestic Cylinders
This price adjustment translates to a Rs13.89 reduction for the standard 11.8kg domestic LPG cylinder, now priced at Rs2,527.47. In August 2024, an 11.8kg cylinder cost Rs2,541.36. Prior to that, in July 2024, the price was Rs2,541.36, reflecting a larger decrease of Rs17.73 per kg from Rs233.10.
Factors Influencing Price
Ogra attributes the price change to fluctuations in the international market and currency exchange rates. According to an Ogra press release, LPG producer prices are directly linked to Saudi Aramco-CP (Contract Price) and the US dollar exchange rate. While the Saudi Aramco-CP remained stable compared to the previous month, a slight decrease of 0.69% in the average dollar exchange rate resulted in the Rs13.89 reduction per 11.8kg cylinder - a 0.54% overall decrease.
These adjustments aim to reflect current global market conditions and provide relief to consumers. The new prices are effective nationwide from September 1, 2024.