OGRA says country has sufficient fuel stock

ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has rejected rumours of an increase in prices of petroleum products, saying that the country has more than sufficient stocks available, ARY News reported.

In a statement, OGRA spokesman Imran Ghaznavi said that there was no price increase in petroleum products. “Moreover, the country has more than sufficient stocks available,” he added.

The OGRA spokesperson has also directed all Oil Marketing Companies (OMCs) to ensure adequate fuel stocks at their petrol pumps across the country aimed at avoiding any inconvenience to consumers.

The statement came after long queues were witnessed at petrol pumps amid speculations of an increase in the prices of petroleum products by Tuesday night.

Meanwhile, Finance Minister Miftah Ismail has said that the government was not planning to increase fuel prices.

In the pre-budget seminar I never even spoke about petroleum prices. Channels running these tickers are doing a disservice to their viewers. There will be no increase in prices today and there is no summary or plan to raise prices.

— Miftah Ismail (@MiftahIsmail) June 7, 2022

In a tweet, the finance minister said: “In the pre-budget seminar I never even spoke about the petroleum prices. There will be no increase in prices today and there is no summary or plan to raise prices.”