The Oil and Gas Regulatory Authority (OGRA) on Monday stressed the need to prevent price speculation in light of a recent claim made by Interim Commerce Minister Gohar Ejaz claiming a decrease in petroleum product prices.
The public can anticipate some good news regarding the price of gasoline, the trade minister told the media on Saturday. The agency emphasized in a statement that dollar exchange rates and foreign market prices are what most heavily influence the cost of petroleum products.
Read More: Petrol Price Expect to Decline as Rupee Recovers Against USD
Additionally, it noted that while the dollar-to-rupee exchange rate has improved, there has been a recent rise in global gasoline costs.
The statement also noted that the announcement of new prices is still one week away, and any speculation regarding price adjustments prior to that could impair the efficient operation of the oil supply chain.
Information Minister Murtaza Solangi recently made a hint about a potential decrease in gasoline prices at the upcoming fortnightly review when speaking to the media. The information minister stated that there is a good chance that the price of petroleum products will decrease despite the fact that it is dependent on exchange rates and global oil prices. This is because the Pakistani rupee has appreciated against the US dollar.
The price of gasoline has increased by Rs. 58.43 per liter under the caretaker system, or from August 1, while the price of high-speed diesel has increased by Rs. 55.84 per liter.
On September 15, the price of gasoline increased by Rs. 26.02 per liter to Rs. 331.38 according to the most recent review of petroleum prices. The cost of high-speed diesel increased similarly, going from Rs. 329.18 per liter to Rs. 17.34.
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