The Oil and Gas Regulatory Authority has asked oil companies for the reason behind the fuel shortage across the country.
Most companies have asked for three days to submit their reply,
The company representatives have been summoned in person. The authority has decided to hold a hearing to decide who is responsible for it.
If it is proven that oil companies showed negligence then strict action will be taken against them.
There has been an increase in the price of high octane too, OGRA noted. The authority has told oil companies to decrease prices. Action will be taken against those who fail to comply.
The government recently approved a reduction in the price of petroleum products but the public hasn’t been able to benefit from these reduced prices. Ever since the prices dropped, there has been a shortage of petrol.
OGRA had issued a show-cause notice to some oil marketing companies. In their reply, the companies placed the blame on the government. They said the government placed a restriction on importing oil in March without any planning. They said they had requested for the restriction to be lifted but received no response. The companies have asked the government to increase the price of petrol.