Regulator against giving free hand to oil companies ISLAMABAD

The Oil and Gas Regulatory Authority (Ogra) strongly opposes the proposed deregulation of profit margins of oil marketing companies (OMCs) and petroleum dealers, fearing that the move will encourage oil majors to form a cartel and make millions of rupees extra from the consumers, say officials.Ogra  the industry regulator  wanted the government to continue the existing mechanism established to set profit margins of OMCs and dealers based on the Consumer Price Index (CPI), they said.Petrol and diesel are the two most widely used petroleum products and it is feared if OMCs and dealers are given a free hand, they will join hands to extract extra money from the consumers by setting higher margins.The Oil and Gas Regulatory Authority (Ogra) strongly opposes the proposed deregulation of profit margins of oil marketing companies (OMCs) and petroleum dealers, fearing that the move will encourage oil majors to form a cartel and make millions of rupees extra from the consumers, say officials.gra  the industry regulator  wanted the government to continue the existing mechanism established to set profit margins of OMCs and dealers based on the Consumer Price Index (CPI), they said.Petrol and diesel are the two most widely used petroleum products and it is feared if OMCs and dealers are given a free hand, they will join hands to extract extra money from the consumers by setting higher margins.

https://tribune.com.pk/story/1425130/regulator-giving-free-hand-oil-companies/