Islamabad, The Oil and Gas Regulatory Authority (OGRA) has set new prices for Liquefied Petroleum Gas (LPG) for March 2024, marking a slight decrease from the previous month.

According to Oil and Gas Regulatory Authority, the maximum LPG producer price has been adjusted to Rs. 215,490.16 per ton, resulting in a retail price of Rs. 2,542.78 per 11.8 kg cylinder for March 2024. This adjustment reflects a minor decrease of Rs. 856.56 per ton in the producer price and Rs. 9.51 per cylinder from February 2024 prices. Similarly, the consumer price for LPG has been set at Rs. 256,790.16 per ton, or Rs. 3,030.12 per 11.8 kg cylinder, also decreasing by the same margins.

The notification detailing these prices is available on OGRA’s official website, providing transparency and ease of access for stakeholders and consumers. The regulatory authority has linked the LPG pricing mechanism to the Saudi Aramco Contract Price (CP) and the fluctuation of the US dollar exchange rate. Notably, the Saudi Aramco-CP remained stable, but a slight depreciation of 0.38% in the dollar exchange rate contributed to the reduced LPG prices for consumers, with a per kilogram decrease of Rs.0.80.

This pricing adjustment underscores OGRA’s commitment to reflecting international market trends and currency fluctuations in the domestic pricing of essential energy commodities. The slight decrease in LPG prices is anticipated to offer minor relief to consumers, aligning with the regulatory authority’s objective to ensure energy affordability.