Producers raise LPG price 10pc

LAHORE - The Liquefied Petroleum Gas (LPG) Producers have again increased the LPG prices by 10pc for the current month, said the LPG Association of Pakistan (LPGAP) here on Monday.

"We regret this ill-timed and unnecessary increase in the LPG producer price which will necessitate higher retail prices," said LPGAP Spokesman Fasih Ahmed.

In a statement issued on Monday he said that according to their assessment, the maximum retail price of the product should not go higher than Rs 72 per kilogramme anywhere in Pakistan. He further said that the current average national price is Rs 68 per kilogramme. "LPG marketing companies are likely to increase the prices on Tuesday."

LPG Producers, led by state-owned Oil & Gas Development Company Limited (OGDCL), have increased their Ex-Plant Price from Rs 46,277.04 per metric tonne or Rs 544.44 per 11.8kg cylinder last month to Rs 50,985.00 per metric tonne or Rs 598.76 per 11.8kg cylinder with effect from Sunday for the period August 3-September 3, 2008, according to LPGAP.

"We had urged LPG producers to maintain their prices at the July level in the interest of the industry and end-consumer," said Ahmed. "We hope that LPG producers, especially those in the public sector, will reduce prices during Ramazan to provide relief to LPG consumers."