No reduction in petrol prices recommended, OGRA clarifies

May 03, 2023 (MLN): Oil & Gas Regulatory Authority (OGRA) on Tuesday clarified that the authority did not recommend any decrease in the prices of MS/Petrol, and the recent decrease in international prices was offset by the outstanding exchange rate adjustment. 

According to the Spokesman OGRA, "Some reports have been circulating in the press and electronic media stating that OGRA made a recommendation to the Government for a reduction in the price of Motor Spirit/Petrol with effect from Ist May 2023, which are baseless and untrue."

The recent decrease in international prices was offset by the outstanding exchange rate adjustment, and as such, there was no room for a decrease in the local prices of MS/Petrol, he added. 

Earlier on the same day, Federal Minister for Finance and Revenue Senator Ishaq Dar rebutted the reports which have been circulating in the media, saying that OGRA made a recommendation to the government for a reduction in the price of Motor Spirit/Petrol.

The federal government on Sunday decided to keep the petrol price unchanged at Rs282 per litre for the next fortnightly. 

However, the prices of Light-Diesel Oil (LDO) and Kerosene have been slashed by Rs10 while the price of High-Speed Diesel (HSD) oil has dropped by Rs5 per litre.

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