ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has increased the price of liquefied natural gas (LNG) for May by $0.17 per MMBTU. The new price for SNGPL consumers is $13.39 per MMBTU and for SSGC consumers it is $13.65 per MMBTU.
The increase in LNG prices comes after a recent reduction in prices. In March, the LNG price was $13.29 per MMBTU for SNGPL consumers and $13.51 per MMBTU for SSGC consumers.
OGRA has cited the rising cost of LNG as the reason for the price increase. The price of LNG has been on the rise due to a number of factors, including the war in Ukraine and the sanctions on Russia.
The increase in LNG prices is likely to have a significant impact on the Pakistani economy. LNG is a major source of energy for Pakistan, and the price increase will likely lead to higher electricity and gas prices.
The government is aware of the impact of the price increase and is working to mitigate it. The government has announced a number of measures, including subsidies for businesses and consumers. However, it is unclear if these measures will be enough to offset the impact of the price increase.
The price increase is a major challenge for the Pakistani economy. The government will need to take further steps to mitigate the impact of the price increase and protect businesses and consumers.
These fluctuations in LNG prices signify the ongoing dynamics and adjustments in the energy sector, impacting consumers across the country. The role of OGRA remains pivotal in ensuring fair pricing and balancing the interests of both consumers and stakeholders in the natural gas industry.
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