Ogra okays up to 50pc increase in natural gas price

Ogra okays up to 50pc increase in natural gas price
In another blow to inflation-weary people, Oil and Gas Regulatory Authority (OGRA) approved the colossal increase of up to 50 percent in the Sui gas prices from July 1.

Media reports suggest that the regulator allows Sui Northern Gas Pipelines Ltd (SNGPL) to hike gas prices by up to 50 percent and the Sui Southern Gas Company (SSGC) by 45 percent.

For SNGPL, the average gas price of Rs 415 per mmbtu has been approved and Rs 417.23 per mmbtu for the SSGC in the latest recommendation.

The federal government will make a final decision in this regard and the new average Sui gas price for the SNGPL would be Rs 1238.68 per mmbtu and Rs 1350 per mmbtu for the SSGC, per reports.

The recent move by OGRA is a double whammy for distressed Pakistani who are facing record food and fuel prices. Inflation touched new heights of 38pc on a year-on-year basis in May 2023, the Pakistan Bureau of Statistics revealed.

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