KARACHI: The marketing companies of liquefied petroleum gas (LPG) have reduced the price of 11.8 kg cylinder to Rs550 in the domestic market. This was stated by the Chairman LPG Distributors Welfare Association Hadi Khan here on Wednesday. He said currently the country had a surplus stock of 12,000 tons of LPG due to higher local production and rising imports. He pointed out that the price of 11.8 kg LPG cylinder had dropped by Rs35 in the last three days. Hadi said that local production of LPG had surged to 1,650 tons per day while 11,503 tons had been imported since January 2007. He said the authorised distributors of LPG would sell 11.8 kg cylinder at Rs580 to the consumers. “The retail price of LPG is Rs52 per kg,” he added.