The Oil and Gas Regulatory Authority (OGRA) has increased the price of Liquefied Petroleum Gas (LPG) for the month of December 2022. According to the details, the OGRA has notified of an increase of Rs. 11.8 per kg in the price of LPG in Pakistan, which brings the new price of the commodity at Rs. 215.95 per kg.
This means the price of a domestic cylinder has gone up by Rs. 139 to Rs. 2,548 and the commercial cylinder has seen an increase of Rs. 535, bringing the new price to Rs. 9,804. The decision to increase the price of LPG in Pakistan has been taken amid growing shortage of natural gas due to which, people automatically turn towards LPG to meet their daily needs.
In related news, the Government of Pakistan has kept prices of petrol and high-speed diesel (HSD) unchanged for the next fortnight (1 December to 15 December), while price of kerosene oil and light diesel oil (LDO) were reduced by Rs. 10 and 7.5 per litre, respecitively.
The move comes despite international oil prices falling to almost $75 per barrel, which is all time low since the start of the Russia-Ukraine conflict. However, as the Federal Government needs to include petroleum levy and general sales tax (GST) in the prices of petroleum products based on the agreement with IMF, it leaves them with little room to pass on the relief to the general public.