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October 1, 2019

LPG price jacked up 11.14pc for October

Business

October 1, 2019

ISLAMABAD: The government has increased the price of local liquefied petroleum gas (LPG) by 11.14 percent for October 2019, a notification said on Monday.

The price of LPG, considered as the fuel of the poor, in absolute terms, has been increased by Rs147.87 to Rs1475.63/11kg cylinder. The new prices take effect from Tuesday (today).

The Oil and Gas Regulatory Authority (OGRA) notified the LPG price had been increased by 12.53/kg to Rs125.05/kg. For the last month (September), the OGRA had notified the price at Rs1327.76/cylinder or Rs112.52/kg.

In September, the government had reduced the LPG price by 1.65 percent or Rs22.27/cylinder over the previous month.

The producers’ price of LPG (propane 40 percent and butane 60 percent) has been determined at Rs67,214.83/ton -in September it was Rs56,504.52/ton.

This price included excise duty of Rs85/ton, while excluding the petroleum levy. Under this head, the producer price of Rs793.13/11.8kg cylinder has been worked out.

Marketing/distribution margin has been set at Rs35,000/ton or Rs413/cylinder, a petroleum levy of Rs4,669/ton would also be charged, which would translate into Rs55.09/ cylinder.

Prior to the imposition of general sales tax, the consumer price would be Rs106,883.83/ton (in September it was Rs96,173.52/ton), while the price of the 11.8kg cylinder is Rs1,261.22. Additionally, a GST of 17 percent on Rs106,883.83/ton would be Rs18,170.25 or Rs214.41 for a cylinder.

The final price would be Rs125,054.08/ton or Rs1,475.63/cylinder. Since January 2019, the LPG price is hovering between Rs1327.76 to Rs1580.14/cylinder. According to details of monthly officially notified LPG prices record, in January 2019, the government notified it at Rs1361.7/cylinder, February Rs1427.63, March Rs1522.65, April Rs1,563.92, May Rs1580.14, June Rs1399.39, July 1330.92, August Rs1350.03, September 1327.76,

and for the month of October, Ogra determined its price at Rs1475.63/cylinder.

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