OGRA increases gas prices by 300pc

The Oil and Gas Regulatory Authority (OGRA) has proposed to surge the gas prices by almost 300 percent for domestic consumers and an increase of 30 percent in commercial sector.

According to local media, as per the recommendation forwarded by OGRA to the interim government, an increase of Rs204 per MMBTU has been suggested for the domestic consumers.

As per the proposal, the per MMBtu price will increase from existing Rs110 to Rs314.67 for the domestic consumers using less than 100 cubic meters of gas, and from Rs220 to Rs629.33 for those consuming between 100-300 cubic meters gas, which is an increase of 286 percent.

Meanwhile, an increase of 30 percent has been advised for the consumer using over 300 cubic meters gas, increasing the price from the current Rs600 per MMBTU to Rs780.43 for them.

The regulator has set average gas tariff at Rs629.33 per Million British Thermal Unit (MMBTU) for SNGPL (Sui Northern Gas Pipelines Limited), and Rs589.09 for SSGCL (Sui Southern Gas Pipelines Limited) for Financial Year 2018-19.

Earlier, OGRA recommended the caretaker government increased the petrol prices by Rs4.26 and diesel Rs6.55 per liter on June 12th. The new gas prices will be effective from July 1.