OGRA Announces Decrease in LPG Prices for May 2024

The Oil and Gas Regulatory Authority (OGRA) has officially lowered the prices of liquefied petroleum gas (LPG) for May 2024, reflecting a notable decrease from the previous month, driven by changes in global market rates and currency valuations. According to Oil and Gas Regulatory Authority, the new LPG producer price is set at Rs. 197,162.14 per ton, down from April’s Rs. 209,041.58, translating to a decrease of Rs. 11,879.44 per ton. Consequently, the price per 11.8 kg cylinder for consumers will be Rs. 2,326.51, a reduction of Rs. 140.18 from April’s price of Rs. 2,466.69. The consumer prices have also been adjusted, with the new price per ton set at Rs. 238,462.14, resulting in a cylinder price of Rs. 2,813.85, down from Rs. 2,954.03. The price adjustment is linked to a 5.6% decrease in the Saudi Aramco Contract Price (CP) and a 0.18% decline in the average US dollar exchange rate. This has led to a 4.74% decrease in the cost per cylinder, amounting to Rs. 11.88 per kg. OGRA has made the detailed prici
ng notification available on its official website, ensuring transparency and accessibility for stakeholders and consumers.