LPG marketing companies have increased the rices of LPG. As per news, government has imposed 6 percent tax on import of LPG. The increase has led to hike the price of residential cylinder by 120 and commercial cylinder by 480 rupees.
The prices of LPG per kilo stands at Rs. 80 for Karachi, Rs. 100 for Rawalpindi, Islamabad, Abbotabad, Muzaffarabad, FATA and Nawabshah, Rs. 110 for Balakot, Murree, Nathiagali, Baltistan and adjoining areas.
However, the crude oil is on decreasing verge and the current hike in LPG prices is unjustifiable. This seems to increase the profit margins of the related marketing companies. The crude oil prices stands around $42 per barrel (Brent Oil) and this decreasing prices should also have negative impact on the LPG prices.