KARACHI, March 28: Marketing companies have again reduced prices of liquefied petro-leum gas (LPG) by Rs1.5 to Rs53.50 per kg and by Rs15 to Rs565 for 11.8 kg domestic cylinder.

This is the second reduction in the LPG prices in the last five days. Marketing companies had earlier slashed LPG price by Rs1.5 per kg on March 24.

LPG Distributors Association Chairman Abdul Hadi Khan said here on Friday that the marketing companies had reduced the prices in to increase the sale of LPG.

He said that price of 45.4kg cylinder had been decreased by Rs60 to Rs2,160 in Karachi.

Mr Khan noted that the sale of LPG had declined by 60 per cent in the last three weeks, mostly because of its smuggling from Iran.

He claimed that the survival of 90 per cent of marketing companies and 4,000 distributors was at stake as ex-refinery and field rates of LPG had not been decreased.

He accused LPG producers of earning more profits.

Mr Khan demanded of Prime Minister Yusuf Raza Gilani to chalk out a price mechanism after consultations with genuine stakeholders so that LPG prices could be stabilised.—Agencies