OGRA reduces LPG price to Rs234 per kg amidst cost-cutting measures by OGDCL
The Oil and Gas Regulatory Authority (OGRA) has announced a reduction in the price of Liquefied Petroleum Gas (LPG), providing relief to consumers who depend on LPG.
According to a recent notification, LPG prices have been cut by Rs3.87, bringing the cost down to Rs234 per kilogramme. This new rate is effective immediately.
This development follows a significant cost reduction in production by the Oil and Gas Development Company (OGDCL), attributed to the arrival of three ships carrying imported LPG.
The increased supply has enabled OGDCL to lower production costs, subsequently leading to the reduced consumer prices.
In a related development, the prices of petrol and diesel in Pakistan are also anticipated to drop from June 1. According to sources, petrol prices are expected to decrease by Rs5 per litre, while diesel prices may see a reduction of Rs4 per litre.
The Ministry of Finance will announce the new rates after consulting with the Prime Minister.
The OGRA summary proposing the price reductions will be submitted to the Petroleum Division by May 31st, sources added.
This move is part of a broader strategy to alleviate the financial burden on the public by ensuring affordable fuel prices amidst fluctuating global oil markets.