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Islamabad News Pakistan

Gas price hiked up to 124%.

Gas price hiked

Following advice from the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) notified a gas sale price increase ranging from 16.6% to 124% for Sui Northern Gas Pipelines and Sui Southern Gas Company consumers on Wednesday.

According to OGRA, the Ministry of Energy’s Petroleum Division communicated the Economic Coordination Committee’s decision, which was ratified by the federal cabinet, regarding the gas sale price, which will be effective January 1, 2023.

The OGRA announced the sale prices for each category of retail natural gas consumers.

As per details, the domestic category of gas consumers who use 100 cubic metres of gas will face a 16.6% hike in the price as the new cost for such consumers has been fixed at Rs350 per Million British Thermal Unit (MMBTU) whereas previously they were paying Rs300 per MMBTU for using 100 cubic metres of gas in a month.

Similarly, the gas price for domestic gas consumers who use 200 cubic metres of gas has been raised by 32%, and the new price for those domestic consumers is Rs730 per MMBTU, up from Rs553 per MMBTU previously.

Similarly, the gas price for domestic consumers using 300 cubic metres of gas has been increased by 69% to Rs1,250 per MMBTU, while the price increase for consumers using 400 cubic metres of gas is 99% to Rs2,200 per MMBTU.

Furthermore, for consumers who use more than 400 cubic metres of gas, the price increase is 124% to Rs3,277 per MMBTU, up from Rs1,460 per MMBTU previously.

The price of commercial gas has been raised by 28.6%, rising from Rs1,283 to Rs1,650 per MMBTU.

Meanwhile, the power sector will see a 22.8% increase in prices, while the export sector will see a 34% increase. The compressed natural gas (CNG) sector’s gas price has risen by 31%.