ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has announced a notable increase in the price of Liquefied Petroleum Gas (LPG), which will take effect on August 1, 2024.
According to a notification issued on Monday, the price of LPG has been raised by Rs 2.27 per kilogram, setting the new rate at Rs 236.99 per kilogram. Consequently, the cost of an 11.8 kg domestic cylinder has risen by Rs 26.90, bringing the total price to Rs 2,796.56.
This new pricing represents a significant increase from the July rate, which saw the cost of an 11.8 kg domestic cylinder set at Rs 2,769.66. The adjustment is part of OGRA’s ongoing efforts to realign domestic LPG prices with fluctuating international market conditions. The decision to raise prices is a regular occurrence aimed at balancing the costs of importation and distribution with global market trends.
The price hike is expected to have a widespread impact on consumers across the country, particularly households that depend on LPG for cooking and heating. With the cost of essential fuel rising, many families are likely to face increased financial pressure, adding to the broader concerns of inflation and economic strain affecting daily life.
The increase in LPG prices follows a trend of periodic adjustments by OGRA, which are often met with criticism from consumer rights groups and the general public. Critics argue that these frequent and significant hikes place an undue burden on average citizens, who are already grappling with rising living costs.
In defense of its decision, OGRA emphasizes that such price adjustments are crucial for maintaining the stability of the LPG supply chain and addressing the costs associated with import and distribution. The regulatory authority has urged consumers to understand the global dynamics that influence local prices, asserting that these measures are necessary for ensuring the long-term sustainability of the LPG market.
As the new prices come into effect, consumers are advised to adjust their budgets accordingly and remain vigilant about further potential changes in fuel pricing.
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