Gas sellers are now selling Liquefied Petroleum Gas (LPG) at jacked-up rates after the government notified a Rs. 23.9 per kg hike in the rate list.
After yesterday’s update, the official price of LPG is now Rs. 201 per kg for the month of August, compared to Rs. 177 per kg in July. The hike comes as demand for the fuel gets out of control in areas utilizing piped gas amid severe commodity shortfalls and delayed imports.
The OGRA notification states that the LPG price for an 11.8 kg domestic cylinder has increased to Rs. 2,373.64 for August 2023, up from Rs. 2,092.13 in July, taking domestic cylinder prices up by ~Rs. 281 in the last month alone.
The producer price of LPG has been determined to be Rs. 159,855.79 per ton while the consumer rate is Rs. 201,155.79 per ton.
Expectedly, it will raise the 11.8 kg cylinder’s price to Rs. 1,886.3 for the producer, up from Rs. 1,604.79 last month.
Consumers are subjected to double taxation under the existing LPG pricing mechanism, with taxes levied both at the production and consumer levels. As a result, consumers face higher LPG rates.
Meanwhile, the government today announced a massive increase in the price of petroleum products in line with commitments made to the IMF. Under the revised prices, the price of petrol has been jacked up by Rs. 19.95 per liter and the price of hi-speed diesel has been increased by 19.90 per liter.
With the increase, the price of petrol will now be Rs. 272.95 per liter while the price of HSD will be Rs. 273.40 per liter.
