Liquefied Petroleum Gas (LPG) price have escalated drastically over the past four years. Irfan Khokhar, the Chairman of Federation of Pakistan Chambers of Commerce and Industry Standing Committee on LPG said that the prices have surged as the rates in Lahore have reached up to Rs. 100 per kg in the last four years.
The prices have skyrocketed in the past few days – with as many as three revisions in three days – Rs. 5 for a kg, Rs. 60 on domestic cylinders and Rs. 240 on commercial cylinders.
In total increase, LPG will now be sold at Rs. 30 for a kg, Rs. 1,380 for commercial cylinders, and Rs. 350 for domestic cylinders.
Mr. Khokhar said:
“Local LPG producers are fleecing people due to the shortage and it will continue if LPG is not imported”.
High demands and the increased shortfall have led to increased LPG prices, as the market fears shortage of the resource in the coming days. This is based on the observation that LPG imports have declined in the past few days and a shortage may just be round the corner.
Immediate steps need to be taken by the government to control the crisis before protests against LPG shortage become much more pronounced.