Ogra okays increase in gas prices

The Oil and Gas Regulatory Authority (OGRA) has approved an increase in gas prices for the current fiscal year, according to local media.

As per OGRA's announcement, gas prices for Sui Northern Gas Pipelines Limited (SNGPL) will rise by 8.71%, while Sui Southern Gas Company (SSGC) customers will face a steeper hike of 25.78%.

The new average gas prices are set at Rs1,778.35 per MMBTU for the SNGPL system and Rs1,762.51 per MMBTU for SSGC.

The regulatory authority clarified that the decision has been forwarded to the federal government for final approval, which will be granted based on the government’s advice.

It was further revealed that gas companies had initially sought a price hike of up to 208.67%. OGRA had conducted a public hearing last month to evaluate the proposed increases before reaching its decision.

The price adjustments, once finalized, are expected to impact households and industries relying on the Sui Northern and Sui Southern gas systems.