Experimental studies have been carried out for investigating engine performance parameters, cylinder pressure, emissions and engine thermal balance of spark ignition engine (S.I.E.) using either gasoline or Liquefied Petroleum Gases (LPG) as a fuel at maximum brake torque (MBT) ignition timing. MBT ignition timing for LPG is found to be 2 to 10 degrees crank angle more advance than for gasoline. Maximum cylinder pressure locations for gasoline and LPG are shifted towards top dead center (TDC) with increase engine speed. At low engine speed, maximum cylinder pressure for gasoline fuel is higher than for LPG fuel. At high engine speeds maximum cylinder pressure for LPG is nearly the same as for gasoline. Maximum pressure for ignition timing 35 crank angle (CA) before top dead center (BTDC) is greater than for 45 and 25 CA respectively. Engine produces more brake power with gasoline than with LPG. Engine brake thermal efficiency (ηbth) and volumetric efficiency (ηv) with LPG is less than for gasoline. When S.I.E converted from gasoline to LPG the loss in maximum power is nearly 14% and the loss in maximum efficiency is nearly 8%. UHC and CO concentrations for LPG are nearly one-tenth of that produced by gasoline at the same ignition timing and the same engine speed. For low engine speed exhaust and oil temperatures for gasoline and LPG increase with increase engine speed but for high engine speed exhaust and oil temperature decreases with increase engine speed. For gasoline and LPG cooling water temperature decreases with increase engine speed. Lubricating oil and cooling water temperatures for gasoline and LPG increase with increase ignition timing BTDC but exhaust gas temperature decreases with increase ignition timing. LPG has higher exhausted gas temperature than gasoline but gasoline has higher oil temperature than LPG. At different ignition timing exhaust loss for LPG is greater than for gasoline but cooling water loss for gasoline is greater than for LPG.