ISLAMABAD (APP): The Oil and Gas Regulatory Authority (OGRA) on Wednesday notified revised prices of Regasified Liquefied Natural Gas (RLNG) for the SNGPL and the SSGC for the current month. According to a notification, there is $ 0.66 per mmbtu (Million British Thermal Unit) increase in the sale price of imported RLNG on the system of Sui Southern Gas Pipelines Company (SSGC) for the month of October as compared to September 2019.
The new price of the RLNG for SSGC system has been fixed at $ 10.7105 per mmbtu, which was $ 10.0457 in the last month. Similarly, there is $ 0.64 per mmbtu increase in the sale price of imported RLNG on the system of SNGPL for the current month as compared to the corresponding month. The new price of the LNG for SNGPL system has been fixed at $ 10.7230 per mmbtu, which was $ 10.0751 in September.
Earlier, Amid major revenue shortfalls, the government increased the price of LPG by more than 11 per cent while the rates of all other petroleum products remained unchanged for October to earn more than Rs4.2 billion in windfall revenue over lower international prices. The Ogra had recommended up to 2.6pc cut in local petroleum products in line with falling international oil prices.
However, the government decided to earn as much additional revenue because of around Rs100bn first quarter shortfall in revenue target. Interestingly, the government did not pass on the benefit of lower international oil prices to consumers on the premise that it expected increase in prices next month.