SNGPL seeks massive hike in gas prices

The Sui Northern Gas Pipeline Limited (SNGPL) has proposed another massive price hike of up to 147% in gas prices.

This is the third time this year that SNGPL is seeking out a price hike.

In this regard, The Oil and Gas Regulatory Authority (Ogra) will be convening a public hearing in Lahore on Monday (today).

If the proposed increase is sanctioned, it is anticipated to substantially hike the inflation rates and overburden the poorer segments of the society.

The proposed gas price surge is slated to take effect from July 1, 2024.

The company aims to elevate the average gas price to Rs4,446.89 per Metric Million British Thermal Unit (mmbtu), reflecting a hike of Rs2,646.18 per mmbtu.