The Oil and Gas Regulatory Authority (OGRA) Tuesday announced a reduction in the prices of Re-Gasified Liquefied Natural Gas (RLNG) for the month of July, offering some relief on the gas front amid expectations of a hike in petroleum product prices, reported 24NewsHD TV channel.
According to the notification issued by OGRA, the RLNG price for Sui Northern Gas Pipelines Limited (SNGPL) has been reduced by $1.72 per MMBTU, bringing the new rate down to $11.57 per MMBTU. For Sui Southern Gas Company (SSGC), the RLNG price was slashed by $2.68 per MMBTU, setting the new rate at $10.57 per MMBTU.
The price cut is based on the weighted average cost of imported RLNG for the month and reflects fluctuations in global LNG markets. The revised rates are effective immediately and will apply to industrial, commercial, and domestic consumers connected to both SNGPL and SSGC networks.
However, while gas prices have dropped, fuel consumers may not share the same luck. Official sources indicate that petrol and diesel prices are likely to increase by up to Rs 6.5 per litre for the next 15-day pricing cycle. The proposed hike awaits final approval, which is expected later tonight.