OGRA urges to refrain from speculating on POL prices

MG News | September 25, 2023 at 01:43 PM GMT+05:00

0:00

September 25, 2023 (MLN): The Oil and Gas Regulatory Authority (OGRA) has urged to refrain from speculating on the prices of petroleum products (POL) as these prices are mainly influenced by global market trends and the USDPKR exchange rates.

Imran Ghaznavi, OGRA Spokesman stated, “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,” he added.

Moreover, he highlighted that there is still one week left before the announcement of new prices, and any speculation about the changes in the prices before that could disrupt the smooth functioning of the oil supply chain.

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