The Oil and Gas Regulatory Authority (OGRA) has rejected circulating claims about a massive increase in petrol prices, calling the news completely baseless. A spokesperson clarified that no summary recommending a Rs73.40 per liter increase in petrol or Rs84.95 per liter in diesel has been submitted to Prime Minister Shehbaz Sharif.

The OGRA spokesperson urged the public to avoid believing unverified reports on social media, emphasizing that the circulating news was false and misleading.

Context Behind the Clarification

The clarification comes a day after the federal government announced a Rs55 per liter increase in petrol and high-speed diesel prices. Officials attributed the hike to rising global oil prices caused by ongoing geopolitical tensions involving the United States, Israel, and Iran.

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Prime Minister Shehbaz Sharif commented on the situation, noting that crude oil prices have surged from around $60 per barrel to over $100 per barrel in global markets. He warned that if international oil prices continue to rise, further adjustments to petroleum products in Pakistan may be necessary, but the government will try to minimize the burden on consumers.

Expert Analysis

Analysts say the spike in global crude prices is a major factor behind fuel price fluctuations in Pakistan. While rumors of exaggerated hikes spread quickly on social media, OGRA’s official clarification helps prevent panic and misinformation.

Authorities continue to monitor international oil markets and domestic fuel supply chains to ensure that any price adjustments are based on verified economic factors rather than speculation.