Ogra Slams LPG, RLNG Prices with Sharp Hike
The Oil and Gas Regulatory Authority (Ogra) has increased prices for both Liquefied Petroleum Gas (LPG) and Re-gasified Liquefied Natural Gas (RLNG). The new rates for RLNG range from $5.76 to $6.45 per million British thermal units (MMBtu), marking a significant rise over the previous month.
The increase is attributed to the cost of five spot cargoes procured by Pakistan LNG Limited (PLL).
According to Ogra, Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL) have seen a substantial hike in transmission and distribution prices. For SNGPL, the tariff has increased from $17.9394/MMBtu in June to $23.7020/MMBtu in July, representing a 32.12% rise.
The State Bank of Pakistan (SBP) has been directed by the National Price Monitoring Committee (NPMC) to conduct a study assessing the impact of daily price revisions on inflation, and establish measures to curb inflationary pressures.