Price of LPG to shoot up by 4%; Gasoil price to see marginal drop

The Institute for Energy Security (IES) has predicted that the price of liquefied petroleum gas (LPG) on the local market will rise by 4%.

The IES’ forecast comes after the significant jump in the price of liquefied petroleum gas (LPG) on the international market as well as the marginal stability in the local currency.

Meanwhile, the price of Gasoline though rose marginally on the international market will not be enough to cause a price change domestically.

“As a result, the IES foresees some stability in the price of Gasoline domestically. In IES’ estimation, Gasoil’s price per litre may see a slight reduction in response to the 10.11% fall in international Gasoil price. The reduction is imminent should the bulk importers decide not to price in the recent forex losses they incurred.”