LAHORE, Aug 21: Liquefied petroleum gas (LPG) retail prices are expected to fall in the next few days to Rs70 per kg with the availability of extra supplies, the LPG Association of Pakistan announced here on Thursday.

“The prices are expected to fall nationwide next week,” said Fasih Ahmed, a spokesman for the association.

“The initial import of 2,500 metric tons of LPG by the Jamshoro Joint Venture Limited would help drive down end-consumer prices,” he said.

The Oil and Gas Regulatory Authority had advised the marketing companies on Aug 3 to ensure that end-consumer prices do not exceed Rs800 per 11.8kg cylinder or about Rs68 per kg. However, LPG is being sold at Rs80 per kg in Karachi and Rs75 per kg in Punjab.

“LPG is being sold at Ogra-recommended rates by most of the member companies of the association, but retailers are exploiting the market by charging unreasonable prices especially in Karachi,” said Fasih Ahmed, adding, “this comes to an end next week, and we remain committed to enforcing reasonable retail rates in Ramazan.”