ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Monday underlined the need to avoid speculations regarding the prices of petroleum products (POL) as these were primarily dependent on international market trends and the Rupee-dollar exchange rates.
“Petroleum product prices in our country are primarily dependent on international market 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,” OGRA Spokesman Imran Ghaznavi said in a press statement.
He said it was essential to highlight that there was still one week remaining before the announcement of new prices.
Therefore, any speculation about price increases or decreases during this period potentially disrupts the smooth functioning of the oil supply chain.
It should be noted that news has been circulating in the media for the last few days that due to the Rupee’s appreciation against the dollar government is likely to cut fuel prices by up to Rs 12 per liter.
