KARACHI, Nov 4: Marketing companies reduced the retail price of liquefied petroleum gas (LPG) by Rs4 to Rs70 per kg on Tuesday, market sources said.

All Pakistan LPG Distributors Association chairman Hadi Khan said that the reduction had been made possible after the price cut announced by the LPG producers.

He said the retail price of 11.8kg cylinder has been reduced from Rs810 to Rs755, while the 45.4kg cylinder will be selling at Rs2,905 compared to Rs3,078 earlier, he added.

Mr Hadi claimed that the LPG producers and marketing companies had accumulated 30 per cent unsold stocks due to higher prices.

He urged the government to take measures for reducing LPG prices to Rs25,000 per ton so that its retail price should come down to Rs42 to 44 per kg.

He pointed out that the LPG sale was down by 40 per cent despite the start of the winter season. —APP