ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has officially notified a price increase for liquefied petroleum gas (LPG), raising the cost by Rs 7.31 per kilogram (kg) for the month of October. According to the notification, the new price for LPG is set at Rs 250.31 per kg.

This adjustment means that the price of an 11.8 kg domestic cylinder has risen by Rs 86.28, bringing the total cost of a domestic LPG cylinder to Rs 2,965.38.The revised pricing will take effect starting in October, following the recent decrease of Rs 7 per kg that had been implemented earlier. Prior to this hike, the price for an 11.8 kg domestic cylinder was fixed at Rs 2,879.

This fluctuating pricing has raised concerns among consumers, especially as energy costs continue to rise amid changing global market dynamics. While the price of LPG has increased, sources indicate that the prices of petroleum products in Pakistan are likely to decrease from October 1, thanks to a significant drop in the international market. Reports suggest that the government is expected to announce a reduction in petrol prices on September 30, with anticipated cuts ranging from Rs 1 to Rs 3 per liter. Diesel prices may also see a reduction, potentially dropping by Rs 3 per liter. This expected price reduction comes in the wake of a recent decline in global oil prices, with Brent crude oil prices falling by $0.50 to $72.27 per barrel. The government is keen to provide relief to consumers amid rising inflation and increasing energy costs, which have placed a significant financial burden on households across the country. 

The decision to adjust petroleum prices will be finalized after seeking approval from the Prime Minister.  As per usual protocol, the government aims to ensure that any changes reflect both domestic market conditions and international pricing trends, thus allowing for a balanced approach to energy pricing. Consumers are eagerly awaiting the government’s announcement, as lower petrol and diesel prices could help alleviate some of the financial pressure they are currently facing. The potential decrease in fuel prices is particularly significant given that many sectors rely heavily on these products for transportation and logistics, which directly impacts the cost of goods and services. In conclusion, while the recent hike in LPG prices poses challenges for many households, the anticipated reduction in petroleum prices offers a glimmer of hope for consumers.

As the government prepares to announce new prices, it remains to be seen how these adjustments will impact daily life in Pakistan, especially in the context of ongoing economic pressures.