Sunday, October 01, 2023
ISLAMABAD: The federal government has approved a Rs20.86 per kilogramme hike in Liquified Petroleum Gas (LPG) prices for both domestic and commercial consumers for the month of October 2023, The News reported on Sunday.
The revised pricing structure came into effect today (October 1, 2023).
Notably, this is the third straight month the government has been increasing LPG prices significantly.
The Oil and Gas Regulatory Authority (Ogra) attributed this consistent escalation to two key factors: the devaluation of the Pakistani rupee against the US dollar and an increase in the prices of Propane and Butane, the principal components of LPG, by Saudi Aramco.
The Ogra’s notification revealed the per-kilogram price of LPG will rise to Rs261 in October, up from Rs240 per kilogram in September 2023.
The development came on the same day, the caretaker government dropped the prices of petrol and diesel for the next fortnight for the first time in two-and-a-half months.
The petrol price was reduced by Rs8 per litre while a cut of Rs11 was announced in the diesel price.
Following the reduction, petrol will be available at Rs323.38 and diesel at Rs318.18 per litre.
The Ministry of Finance, in a statement, said the decision to bring down the price of petroleum products was taken after the Pakistani rupee gained value and POL rates dropped globally.
"In the wake of variations in international prices of petroleum products and the improvement in the exchange rate, the Government of Pakistan has decided to revise the consumer prices of petroleum products," the ministry said.
The government has also slashed the rate of kerosene oil by Rs7.53 per litre to 237.28 and light diesel oil by Rs7.77 per litre to 212.45.
The prices of the commodities last witnessed a decrease in mid-July when petrol was dropped by Rs9 per litre to Rs253 and diesel by Rs7 to Rs253.50.