Ministry finds LPG price exploitation
The Oil and Gas Regulatory Authority (Ogra) and the Petroleum Division have pointed out exploitation of the liquefied petroleum gas (LPG) pricing formula and policy framework that have caused market distortion and significant price anomalies. Sources said that the issue was taken up in a high-level meeting of the National Price Monitoring Committee (NPMC). During the sitting, Ogra presented a detailed briefing on the existing LPG pricing mechanism, highlighting that the prevailing discrepancy between notified and actual market prices primarily stemmed from the exclusion of import parity in the current pricing formula.