RLNG prices rocket to highest level in a decade

• LPG rates for August increased to Rs254.32 per kg ISLAMABAD: In a major price shock, Ogra on Friday notified a record 32pc increase in regasified liquefied natural gas (RLNG) prices for August, fixing the rate at $25.83 per mmBtu for Sui Northern Gas Pipelines Limited (SNGPL) and $25.09 per mmBtu for Sui Southern Gas Company Limi­ted (SSGCL), while denying consumers about Rs50bn in savings from lower natural gas rates. This translates into a retail price of around Rs7,204 per mmBtu. The revised price is based on five imported LNG cargoes procured from the spot market, as no shipment could be secured from Qatar due to the US war on Iran. This is the biggest-ever increase in RLNG prices in…