ISLAMABAD: The Oil and Fuel Regulatory Authority (OGRA) slashed the worth of Liquefied Petroleum Fuel (LPG) earlier than Ramadan, ARY Information reported.
As per the notification issued by the OGRA on Friday, the LPG charges have been decreased by Rs6.15 to Rs247.82 per kilogram.
The brand new costs will probably be in impact from Saturday, March 1st 2025.
The value of the usual home cylinder weighing 11.8 kg has been decreased by Rs72.57 and the brand new price is fastened at Rs2924.31.
In February 2025, the LPG home cylinder’s worth was at Rs 2996.88.
Learn Extra: Govt ‘plans’ deregulation of petroleum product costs
In the meantime, the federal authorities has deliberate to decontrol petroleum product costs, a transfer that has been met with resistance from the Pakistan Petroleum Sellers Affiliation.
In a letter to Minister for Petroleum Musadik Malik, the affiliation expressed considerations that deregulation would result in a rise within the sale of smuggled Iranian oil and non-standard gasoline within the nation.
The affiliation argued that deregulation would compromise the investments made by petroleum sellers, who’ve invested billions within the sector. They emphasised that any resolution ought to be made in session with stakeholders, as was beforehand agreed upon.
Below the proposed plan, oil advertising corporations (OMCs) can be allowed to promote gasoline at aggressive costs, enabling them to extend their market share. A worth ceiling can be established to make sure worth stability.
Moreover, the federal government plans to allow oil refineries to mix as much as 5% ethanol in petroleum merchandise to scale back gasoline prices.
The Pakistan Petroleum Sellers Affiliation has urged the minister to have interaction in talks with the affiliation to handle their considerations.