ISLAMABAD: Liquefied Petroleum Gas (LPG+ prices are expected to decrease by up to Rs50 in the next one to two days following permission for Iranian LPG tankers loaded by October 16 to enter Pakistan, LPG Standing Committee Convener Ali Haider has said.
Ali Haider said the arrival of around 900 tankers would improve LPG supplies in the country. He said an immediate decline in prices was expected to begin within the next 24 hours.
He also criticised the Oil and Gas Regulatory Authority’s (OGRA) formula for determining LPG prices, saying prices should be set on a weekly basis instead of monthly.
According to Ali Haider, Pakistan imported five LPG cargo ships in October, bringing total imports to 22,000 tonnes during the month.
He said Pakistan’s total daily LPG demand stands at 12,000 to 13,000 tonnes, while Karachi’s daily demand is between 4,000 and 5,000 tonnes.
He added that in Karachi, 40 per cent of total LPG consumption is in the commercial sector, while 30 per cent is used by industry.