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Business

July 2, 2017

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‘CNG prices cut due to declining trend in global market’

‘CNG prices cut due to declining trend in global market’

LAHORE: The prices of compressed natural gas (CNG) have been slashed by around Rs2.50 in Punjab and Islamabad; following declining trend in the international market, said Ghiyas Abdullah Paracha, central chairman of the All Pakistan CNG Association (APCNGA), on Saturday.

The prices of oil and LNG have reduced in the international market; therefore, the benefit is passed on to the consumers of the environmentally-friendly fuel, he added.

Paracha said that the CNG prices have been deregulated in Punjab; therefore, the price may vary a little at different filling stations. The CNG operators will fix the retail price, keeping in view the quality of gas, cost of generator, local taxes and other expenses, he said.

Pakistan State Oil (PSO) is importing liquefied natural gas (LNG), while additional expenses such as re-gasification, transportation by Sui Southern Gas Company (SSGC), transportation and distribution by Sui Northern Gas Pipelines Limited (SNGPL), etc, were added in it, which is determined by the Oil and Gas regulatory Authority (Ogra), while taking decision regarding pricing. CNG prices continue to slide, which resulted in popularity of the clean fuel. Around 1,000 CNG stations have become operational in Punjab, while the CNG outlets in Islamabad and Rawalpindi are witnessing large queues of motorists, Paracha added.

Those consumers who have CNG kits and cylinders in place should waste no time to switch on the clean and economical fuel, he added.

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