ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Monday announced a significant increase in price of liquefied petroleum gas (LPG), effective from January 1, 2024.

In a notification, the regulatory authority set the price of indigenous LPG at Rs256.42 per kg, against Rs254.86 in the previous month, up by Rs1.57.

Therefore, the price of a domestic LPG cylinder, weighing 11.8kg, has been increased to Rs3,025.87 for the current month against Rs3,007.62 in the previous month, an increase of Rs18.52.

The OGRA, in a statement, stated the gas producer price is linked with Saudi Aramco-CP and the US Dollar exchange rate. As compared to the previous month Saudi Aramco-CP has increased by 1.6 percent.

The average Dollar exchange rate has however gone down by 0.86 percent resulting in an increase in gas consumer price by Rs. 18.52/11.8 kg cylinder (0.61 percent), it added.