January 31, 2024
Business, Latest News
ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has announced a marginal increase in the price of indigenous liquefied petroleum gas (LPG) for the month of February 2024. According to a notification issued on Wednesday, the consumer price of LPG has been set at Rs. 257.59 per kg, reflecting a modest increase of Rs. 1.16 per kg compared to January.
As a result of this adjustment, the price of a 11.8 kg domestic cylinder has risen by Rs. 13.76 for February, reaching Rs. 3,039.63. This slight uptick in prices is attributed to fluctuations in the Saudi Aramco Contract Price (CP) and the US Dollar exchange rate, both of which influence the LPG producer price.
Despite a 1 percent decrease in the average Dollar exchange rate, the Saudi Aramco-CP has seen a 1.6 percent increase compared to the previous month. Consequently, OGRA has implemented a nominal price adjustment to maintain equilibrium in the LPG market.
While consumers will be paying slightly more for their LPG cylinders in February, the overall impact remains minimal, with the increase amounting to only 0.45 percent for a standard 11.8 kg cylinder.
Read more: LPG prices increased by Rs 23.86 per kg
OGRA’s decision to adjust LPG prices reflects its commitment to ensuring a fair and stable pricing mechanism, balancing the interests of both consumers and producers in the energy sector. Despite the incremental rise, LPG continues to be an accessible and affordable fuel option for households across the country.
#OGRA#Oil and Gas Regulatory Authority