ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) reduced the price of Liquefied Petroleum Gas (LPG) ahead of Ramadan. According to the notification issued by OGRA on Friday, the authority lowered LPG rates by Rs6.15 to Rs247.82 per kilogram.

The new prices will take effect on Saturday, March 1, 2025. OGRA has reduced the price of the standard domestic cylinder (11.8 kg) by Rs 72.57, setting the new rate at Rs 2,924.31.

In February 2025, the price of the LPG domestic cylinder stood at Rs 2,996.88.

Meanwhile, the federal government plans to deregulate petroleum product prices, but the Pakistan Petroleum Dealers Association has opposed the move.

The association sent a letter to Minister for Petroleum Musadik Malik, expressing concerns that deregulation would increase the sale of smuggled Iranian oil and non-standard fuel in the country.

The association argued that deregulation would threaten the investments of petroleum dealers, who have invested billions in the sector. They emphasized the need for consultation with stakeholders before making any decision, as previously agreed upon.

The proposed plan would allow oil marketing companies (OMCs) to sell fuel at competitive prices, helping them expand their market share. Authorities would set a price ceiling to maintain price stability.

The government intends to allow oil refineries to blend up to 5% ethanol into petroleum products to lower fuel costs.

The Pakistan Petroleum Dealers Association has urged the minister to discuss their concerns directly with them.

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