The Oil and Gas Regulatory Authority (OGRA) on Tuesday announced a sharp reduction in liquefied petroleum gas (LPG) prices for July, lowering the official price by Rs67.33 per kilogram.

According to a notification issued by the regulator, the new LPG price has been fixed at Rs241.43 per kg from July 1, down from Rs308.76 per kg in June.

The price of an 11.8kg domestic LPG cylinder has been reduced by Rs794.05 to Rs2,848.91, compared with Rs3,642.96 during the previous month.

OGRA has also reduced the price of a commercial LPG cylinder by Rs3,057, bringing its new price to Rs10,960.

The revised prices will take effect from midnight and remain applicable throughout July.

The reduction is expected to provide relief to households and commercial consumers amid continued concerns over the cost of living.