OGRA issues statement on rumors about petroleum prices

Islamabad: The spokesperson of the Oil and Gas Regulatory Authority (OGRA) issued a statement regarding the news about prices of petroleum products.

The spokesperson of the authority stated: “OGRA emphasizes the importance of avoiding speculation on the prices of petroleum products as that is dependent on the international prices of oil and the exchange rate of the dollar”.

He added that in recent days the prices of petroleum products at the international level have fluctuated after which an increase was observed.

The US dollar-rupee exchange rate has improved in the country and there is still a week left for the announcement of new petrol prices, so price speculation during this period could disrupt the oil supply chain, he said.