LAHORE: An imported parcel of 2,000 tons of liquefied petroleum gas on Wednesday arrived at Karachi port to assist LPG marketing companies meet additional demand during Ramazan and mitigate pricing pressures.
A spokesman of the LPG Association of Pakistan (LPGAP) in a press statement said the LPG sector’s commitment to keep the demand-supply gap in check was evident from the record-high imports made during this calendar year by the private sector.
He said various LPG marketing companies increased prices this week. ‘Price rationalisation necessitated and regulated by market conditions and are being effected by LPG companies and retailers in response to these conditions,’ he said.
‘The prices of LPG marketing companies are and shall continue to remain well within the range of reasonability prescribed by the Oil and Gas Regulatory Authority (Ogra),’ he added.
He said the LPG marketing companies was providing an 11.8-kg cylinder to their distributors at an average mid-country price of Rs725 in the first half of last month. This price dropped to Rs680 on July 18 and further came down to Rs670 on August 3, and settled at Rs640 on August 8.
He however said this average mid-country price was increased to Rs650 on Monday (August 17). Based on the current ex-plant producer price, the sale price of LPG marketing companies during the current month had been at an almost breakeven level, he added.
The real producer price for the month was Rs49,500 per ton.
The spokesman said that with the latest price increase, the average mid-country price charged by LPG marketing companies was close to Rs670 per 11.8-kg cylinder.
He said the price was Rs830 during last Ramazan. ‘LPG marketing companies shall closely coordinate with their distributors and the authorities to ensure product remains available at reasonable prices across the country in Ramazan,’ said the spokesman.Link...
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