LPG price to go up by 15pc

Tuesday, September 01, 2009

LAHORE - Public and private sector LPG producers in Pakistan are likely to increase prices by up to 15 percent for September, said the LPG Association of Pakistan (LPGAP) on Monday. Local LPG producer prices are likely to increase by $75/MT with effect from September 3 based on the increase in the Saudi CP, said an LPGAP spokesman. The Saudi Aramco Contract Price, which is the ceiling price for local LPG producers, has increased from $508/MT in August to $583/MT for September. This translates into an ex-producer plant price increase of Rs 7,221/MT or Rs 85 per 11.8kg cylinder or Rs 7.2 per kg. The spokesman said LPG prices have remained reasonable during Ramzan and well within the limits prescribed by the Oil and Gas Regulatory Authority.
LPGAP requests all LPG producers to keep price increases to a minimum during the month of Ramzan, said the spokesman. We have also requested LPG marketing companies and LPG distributors to price product within reasonable limits in order to benefit the general public. The spokesman said all stakeholders must work in concert to ensure prices remain stable. He said pricing information would continue to be provided by LPGAP for the information and benefit of the consumer and general public. The spokesman said record imports have been made in Pakistan during the current calendar year. With the import of 7,500 metric tonnes expected in the first half of September, sea-borne imports will have reached 57,616 metric tonnes which is an increase of 140 percent over the previous year, he added.

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