‘Instances of overcharging or price manipulation should be reported for immediate action’
ISLAMABAD:
The Oil and Gas Regulatory Authority (Ogra) dismissed rumours of Liquefied Petroleum Gas (LPG) price increase on Wednesday and clarified that no new LPG price notification had been issued, according to a statement issued by OGRA spokesperson Imran Ghaznavi.
The Ogra spokespersons said that LPG prices are officially notified once a month, effective from the first day of each month under the prescribed pricing mechanism, dismissing any rumours or claims of a price increase as incorrect.
The Ogra, in its statement, advised consumers that the currently notified price remains applicable and urged them to ensure that LPG is sold according to the official rates. “Instances of overcharging or price manipulation should be reported to the local district administration for immediate action,” the spokesperson said.
The regulator reaffirmed its commitment to protecting consumer interests and maintaining transparency and compliance in the LPG market nationwide.
Read: Prioritising domestic energy supply
On February 28, the US and Israel conducted joint airstrikes on Iran, which, in retaliation, effectively closed the Strait of Hormuz.
The strait remains the world’s most critical chokepoint, with 20 million barrels of oil per day (bpd) – nearly 30% of all seaborne-traded oil – passing through it. For Pakistan, the vulnerability is acute: roughly two-thirds of its total LNG supplies transit this route.
Last week, the government announced an increase of Rs55 per litre in petrol and diesel prices following a surge in petroleum costs amid the ongoing Middle East crisis.
Prime Minister Shehbaz Sharif on Monday announced extensive austerity measures, acknowledging that petrol prices were expected to rise internationally in the coming days. However, the Premier has assured the public that the government would strive to shield them from the full burden of these increases.
