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Monday December 11, 2023

Rush seen at petrol stations: Reports about hike in petroleum prices misleading, says Ogra

The Oil and Gas Regulatory Authority (Ogra) on Saturday termed the reports on increase in petrol and diesel prices ‘misleading’

By Our Correspondent
January 29, 2023
Ogra says the reports about hike in petroleum prices misleading. Representational image
Ogra says the reports about hike in petroleum prices misleading. Representational image

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Saturday termed the reports on increase in petrol and diesel prices ‘misleading’.

Ogra Spokesperson Imran Ghaznavi said in a brief press statement, “It has been observed that speculative prices of petrol and diesel are being reported in the print and electronic media since last evening [Saturday],” adding that the reports are “misleading and incorrect”.

Earlier, after there were rumours that the government could increase petrol prices by nearly Rs83 per litre, people started lining up for getting their vehicle tanks full.

Ogra advised “the elements, spreading misleading and incorrect information, to avoid disseminating speculative prices of petroleum products in the public interest.”

It may be noted that earlier on Tuesday, the regulator also strongly rebutted speculations over the shortage of POL products, especially petrol and diesel in Pakistan, and said that sufficient stocks were available.

The country had sufficient petrol and diesel stocks for meeting the needs of 18 and 37 days respectively. “Furthermore, ships carrying 101,000MT [Metric Ton] petrol is at berth/outer anchorage.” The Ogra’s statement came after a countrywide power breakdown that triggered speculation that the country was running out of fuel to run its power plants.