Fuel Prices in Pakistan to See Changes in August 2023

Strategic Insights -

Pakistanis are in for a shock as the oil and gas regulatory authority, OGRA, has increased liquefied natural gas (LNG) prices for August by 1.46%. This hike affects both Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL) networks, with customers facing a higher bill due to volatile global LNG import prices. Meanwhile, the federal government is reviewing a proposal to revise rates for petroleum products, which could lead to changes in fuel prices starting August 16.

Key Takeaways:

  • OGRA increased LNG prices by 1.46% for August, affecting SSGC and SNGPL customers.
  • SSGC customers will pay $10.73 per MMBTU, up $0.15, while SNGPL users face $11.73 per MMBTU, a $0.14 increase.
  • The federal government is reviewing a proposal to revise rates for petroleum products, which could lead to changes in fuel prices starting August 16.
  • Petrol prices may increase by Rs 1.32 per liter, bringing the new price to Rs 265.93, while high-speed diesel is expected to drop by Rs 11.75 per liter, reducing it from Rs 285.83 to Rs 274.08.
  • The proposal also recommends reductions in other fuel products, including kerosene and light diesel.
  • At present, petrol carries a premium of $7.69 per barrel, while diesel has a $3.20 per barrel premium.

Statistics:

  • OGRA increased LNG prices by 1.46% for August.
  • SSGC customers will pay $10.73 per MMBTU, up $0.15.
  • SNGPL users face $11.73 per MMBTU, a $0.14 increase.
  • Petrol prices may increase by Rs 1.32 per liter.
  • High-speed diesel is expected to drop by Rs 11.75 per liter.
  • Kerosene prices may decrease by Rs 6.25 per liter.
  • Light diesel prices are expected to drop by Rs 7.11 per liter.

Sources:

  • [1] Households will face pinch as Oil and Gas Regulatory Authority (OGRA) increased liquefied natural gas (LNG) prices by 1.46% for August (taken from the original text).
  • [2] The new rates hit both the Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL) networks (taken from the original text).
  • [3] OGRA explained that the hike is part of its monthly review, reflecting volatile global LNG import prices, fueling concerns over rising energy bills across Pakistan (taken from the original text).
  • [4] According to sources, if approved, petrol prices could increase by Rs 1.32 per liter, bringing the new price to Rs 265.93 (taken from the original text).
  • [5] Expected Fuel Prices Product Change (taken from the original text).