The Oil and Gas Regulatory Authority (OGRA) on Saturday expressed grave worry over the spread of speculative claims about a rise in gasoline and diesel prices.
A representative for the OGRA stated in a press release that “it has been observed that speculative pricing of gasoline and diesel are being publicised in the print and electronic media since last evening, which is deceptive and false.”
He warned those who were propagating false and inaccurate information to refrain from discussing speculative petroleum product pricing in the name of the “public interest.”
Oil and Gas Regulatory Authority (OGRA) earlier in January refuted allegations of a scarcity of gasoline and diesel throughout the nation, claiming that there were sufficient inventories on hand.
“Sufficient stocks of petrol and diesel are available across the country,” OGRA spokesman Imran Ghaznavi clarified in a press statement.
He said 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 spokesman added.
A fuel shortage in the nation was avoided after the Oil Companies Advisory Council (OCAC) requested that the federal government act right away to secure the prompt issue of letters of credit to import petroleum products.
