Rising Gas Prices Add Burden on Commuters in Pakistan

The ongoing political tensions in West Asia have started to impact the common people of Pakistan. Prices of LPG have increased manifold. 

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According to local media reports and the latest data from the Pakistan Bureau of Statistics’ Sensitive Price Index (SPI), the price of an 11.67 kg LPG cylinder has risen from ₹3,150-₹3,968 to ₹3,900-₹5,135. Several cities in Punjab have seen the highest price increases.

The increase in prices of LPG is also impacting the transportation sector. The rates of LPG-run rickshaws, buses, and minibuses have also increased. This is adding to the burden of the common people who depend on these modes of transport.

According to experts, global factors are the primary reason behind this increase. The ongoing conflict in West Asia has led to a rise in LPG prices in the international market. Furthermore, gas supplies from Iran during Eid and Nowruz have also declined, from 10,000 to 12,000 tons per day.

Pakistan’s total LPG requirement is approximately 2 million tons annually, of which approximately 1.2 million tons are imported, while 0.8 million tons are met through domestic production. In March, approximately 20,000 tons of LPG were supplied via three ships, but this proved to be far less than the demand.

The situation regarding energy security also remains concerning. According to recent reports, the country has crude oil reserves sufficient for only 11 days. Additionally, diesel is available for 21 days, petrol for 27 days, LPG for only 9 days, and jet fuel for only 14 days.

Pakistan relies on the Middle East for approximately 70 percent of its petroleum needs. The crisis has been exacerbated by the disruption of shipping routes and supply chains due to the regional conflict.

To address the situation, the government is negotiating with Iran to allow oil supplies through the Strait of Hormuz. However, experts have warned that if the disruption to LNG supplies continues, the country could face a severe gas crisis after April 14.