OGRA urges to refrain from speculating on POL prices

By 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.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	125,627.31 258.99M	1.00% 1248.25
ALLSHR	78,584.71 1,142.41M	1.16% 904.89
KSE30	38,153.79 69.25M	0.63% 238.06
KMI30	184,886.50 91.38M	0.01% 13.72
KMIALLSHR	53,763.81 554.57M	0.54% 290.61
BKTi	31,921.68 33.15M	1.78% 557.94
OGTi	27,773.98 9.65M	-0.40% -112.21

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,055.00	109,565.00 107,195.00	570.00 0.53%
BRENT CRUDE	66.64	67.20 65.92	-0.16 -0.24%
RICHARDS BAY COAL MONTHLY	97.00	97.00 97.00	1.05 1.09%
ROTTERDAM COAL MONTHLY	107.65	107.65 105.85	1.25 1.17%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	64.97	65.82 64.50	-0.55 -0.84%
SUGAR #11 WORLD	16.19	16.74 16.14	-0.52 -3.11%