Islamabad, March 28 (IANS) The average price of liquefied petroleum gas (LPG) in Pakistan has surged to Rs 3,900-5,135 per 11.67 kg cylinder from Rs 3,150-3,968 amid the conflict in West Asia, local media reported.
Citing data from the Sensitive Price Index (SPI) published by the Pakistan Bureau of Statistics (PBS) for the week ending March 26, Pakistani daily Dawn reported that the most significant price hikes were recorded across various cities in Punjab province.
Reports suggest that as gas prices rise, fares for LPG-run private transport have increased, placing additional pressure on low- and middle-income commuters dependent on LPG-driven rickshaws, buses, and minibuses.
Amid the global rise in LPG prices triggered by the conflict, the gas supplies from Iran, which previously ranged between 10,000 and 12,000 tonnes a day, have declined due to the Eid and Nawroz holidays.
According to M. Ali Haider, Convenor of the Standing Committee on LPG of the Federation of Pakistan Chambers of Commerce and Industry, three vessels carrying about 20,000 imported LPG arrived in Pakistan during March.
He said the country needs around 2m tonnes of LPG annually, of which 1.2m tonnes are imported, and 800,000 tonnes are produced by local refineries.
Last week, a report highlighted that Pakistan has limited petroleum reserves, with crude oil stocks sufficient for just 11 days, raising concerns over energy security amid disruptions caused by the ongoing West Asia conflict.
Briefing the Senate Standing Committee on Petroleum, the secretary of petroleum said the country currently has diesel reserves for 21 days, petrol for 27 days, LPG for nine days and jet fuel for 14 days, according to a report in The Express Tribune.
Nearly 70 per cent of Pakistan's petroleum imports come from the Middle East, and the ongoing conflict has disrupted key shipping routes and supply chains, the official said.
Pakistan is in talks with Iran to secure permission for oil shipments through the Strait of Hormuz, which could allow four vessels to transport crude cargoes if approved.
Officials also warned of a potential gas crisis, with the country likely to face a severe shortage after April 14 due to disruptions in liquefied natural gas (LNG) supplies.
Of the eight LNG cargoes expected in March, only two reached Pakistan, while several shipments scheduled for April may also be affected.
--IANS
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