Government Increases LPG Price for October

Government Increases LPG Price for October: The Oil and Gas Regulatory Authority (OGRA) has announced an increase in the price of indigenous liquefied petroleum gas (LPG) by Rs. 7.31 per kg for October 2024. As a result, the price of an 11.8 kg domestic LPG cylinder has risen by Rs. 86.3, bringing the total cost to Rs. 2,965.38, up from Rs. 2,879.10 in September 2024.

According to OGRA’s notification, the new LPG price per kg has been set at Rs. 251.30 for consumers in October. This price adjustment is primarily driven by the Saudi Aramco Contract Price (CP), which increased by 3.84%, and the fluctuations in the US dollar exchange rate, which saw a slight decrease of 0.125%.

OGRA clarified that the LPG producer price is directly linked to the Saudi Aramco CP and the exchange rate of the dollar. Despite the marginal decrease in the exchange rate, the overall increase in Aramco’s CP led to higher LPG prices for consumers.

This marks the second consecutive month of price hikes, with the cost of an 11.8 kg LPG cylinder increasing by Rs. 82.5 in September. The rise in prices may impact household budgets, particularly for those relying on LPG for domestic use.