“Instances of overcharging or price manipulation should be reported for immediate action”
ISLAMABAD:
The Oil and Gas Regulatory Authority (Ogra) on Wednesday dismissed rumors of increase in liquefied petroleum gas (LPG) prices and clarified that no new LPG price notification has been issued, according to a statement issued by OGRA spokesperson Imran Ghaznavi.
Ogra spokespersons said LPG prices are officially notified once a month, starting from the first day of each month, under the prescribed pricing mechanism, dismissing as incorrect any rumors or claims of price increase.
The Ogra, in its statement, informed 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: Prioritize domestic energy supply
On February 28, the United States and Israel carried out joint airstrikes against Iran that, 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) – almost 30% of all oil traded by sea – passing through it. For Pakistan, the vulnerability is acute: around two-thirds of its total LNG supplies pass through this route.
Last week, the government announced an increase of Rs 55 per liter in the prices of petrol and diesel following a surge in oil prices amid the ongoing crisis in the Middle East.
Prime Minister Shehbaz Sharif announced sweeping austerity measures on Monday, acknowledging that gasoline prices are expected to rise internationally in the coming days. However, the Prime Minister assured the public that the government would work to protect them from the full burden of these increases.
