The Oil and Gas Regulatory Authority clarified that they have not yet reached a decision on the matter.
OGRA decision on petrol prices: In a statement released on Monday, OGRA warned against speculating on whether a rise or decrease in the price of oil may lead to supply-chain disruptions.
OGRA stated that global market prices and the exchange rate between the rupee and the dollar largely influence the price of oil in the country.
The statement also noted that these variables had recently displayed conflicting tendencies, with rising oil prices on the world market and falling dollar to rupee exchange rates.
The message clarified that they had not yet made a decision on oil pricing, and there would be speculation during the waiting period.
Gohar Ejaz, the interim minister of commerce and industry, had previously told reporters on Saturday that the government’s efforts to combat counterfeiting and smuggling were beginning to show progress.
Interim Commerce and Industries Minister Gohar Ejaz remarked on Saturday, “When the currency has stabilised, you will see its results. “I hope for good news regarding petrol prices on October 1, considering the increase due to the currency surge.”