LAHORE, Dec 4: The state owned OGDC and Pak-Arab Refinery raised their LPG prices to match the Contract Price (CP) of $974 per ton for December after months of keeping their prices below Saudi Aramco CP.

Parco increased its base stock price from Rs93,500 to Rs93,700 per ton whereas OGDC increased its base stock price from Rs87,000 to Rs93,685 per ton with effect from Dec 3.

Despite the nominal increase in producer price, retail prices have jumped by as much as Rs8,000 per ton following shutdown of JJVL’s facility which met with a fire accident last week.

“Temporary suspension of supplies from JJVL which accounts for 25 per cent of country’s LPG production has created a severe shortage in the market,” said Belal Jabbar the spokesman for the LPG Association of Pakistan.

Prices of domestic and commercial cylinders have arisen from Rs1,610 to Rs1,700 and Rs6,220 to Rs6,583 respectively “In order to cater to this shortage JJVL and other companies are importing approximately 7000 tons of LPG to ensure ample availability during the month of December.

LPG marketing companies are cognizant of their responsibility and are working with their distributors to address the shortage” said Belal.

Currently retail prices are as follows in different parts of the country; Rs140 per kg in Sindh and Balochistan, Rs145 per kg in Punjab, Rs150 per kg in AJK and Khyber Pakhtunkhwa and Rs155 pr kg in Northern Areas.