POL products’ prices: Ogra emphasises importance of avoiding speculations

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) would like to emphasise the importance of avoiding speculations regarding the prices of petroleum products.

Spokesman Ogra Imran Ghaznavi stated that petroleum product prices in our country are primarily dependent on international market’s prices and the exchange rate of the dollar.

In recent times, we have witnessed a surge in international petroleum prices, while the dollar-to-rupee exchange rate has shown improvement.

It is essential to highlight that there is still one week remaining before the announcement of new prices. Therefore, any speculation about price increases or decreases during this period is highly speculative and could potentially disrupt the smooth functioning of the oil supply chain.

On Monday, caretaker Energy Minister Muhammad Ali stated that the final decision on petroleum price would be taken on September 30, keeping in view the price of Brent internationally and rupee-dollar parity.

Copyright Business Recorder, 2023