OGRA decreases LPG prices on New Year’s eve

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Tuesday announced to decrease the liquefied petroleum gas (LPG) prices on New Year’s eve. 

According to a notification issued by the regulator, the price of 1 kilogramme of LPG has been reduced by Rs4, settling at Rs250.

Similarly, the price of domestic cylinder weighing 11.8kg has been decreased by Rs47.

Now, consumers across the country will have to pay Rs2,953 for a domestic cylinder with 11.8kg LPG in the first from January 2025.

The notified price will come into effect on January 1, 2025.

The per kg price in December was Rs254, while the 11.8kg domestic cylinder was Rs3,000.

According to the OGRA, the LPG producer price is linked with Saudi Aramco-CP and US$ dollar exchange rate.

As compared to the previous month (December 2024) Saudi Aramco-CP has decreased prices by 2 per cent.

Likewise, the average dollar exchange rate has slightly increased by 0.12 per cent resulting in a decrease in LPG consumer price by Rs47.43/11.8 kg cylinder (1.58 per cent).  

Meanwhile, gold prices in Pakistan remained unchanged on final trading day of 2024, with 24-karat gold maintaining its value at Rs272,600 per tola, according to the latest figures released by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).

Similarly, the price for 10 grammes of 24-karat gold stood firm at Rs233,711, showing no change from the previous session.

For 22-karat gold, the price was recorded at Rs214,235 per 10 grammes.

Silver prices in the local market also remained stable, with 24-karat silver priced at Rs3,350 per tola and Rs2,872 per 10 grammes.

On the international front, spot gold experienced a modest rise, trading at $2,616 per ounce—an increase of $9.6, or 0.37 per cent, compared to the previous session.

This uptick comes as gold wraps up a record-breaking year, marking its strongest annual performance since 2010.

The metal’s rally has been driven by significant central bank purchases, ongoing geopolitical tensions, and easing monetary policies from major global financial institutions.

Gold prices were set to end a record-breaking year on a positive note on Tuesday as robust central bank buying, geopolitical uncertainties and monetary policy easing fuelled the safe-haven metal’s strongest annual performance since 2010.