In a major relief to the public, the Oil and Gas Regulatory Authority (OGRA) on Tuesday announced a significant reduction in the prices of Regasified Liquefied Natural Gas (RLNG) for the month of July.

OGRA issued a formal notification stating that the new price for RLNG supplied to the Sui Northern Gas Pipelines Limited (SNGPL) has been set at $11.57 per MMBtu, a decrease of $1.72 per MMBtu compared to last month’s rate.

Meanwhile, relief has also been extended to consumers of the Sui Southern Gas Company (SSGC). According to the notification, the new price for RLNG supplied to the Sui Southern will be $10.57 per MMBtu, marking a reduction of $2.68 per MMBtu.

Energy experts believe that this reduction is primarily due to fluctuations in global LNG prices, which have allowed for this price cut in July.

This reduction will benefit Pakistan’s industrial, commercial, and domestic consumers alike.

The price decrease is expected to not only offer relief to consumers struggling with inflation but also provide partial relief to the industrial sector, which heavily depends on natural gas.

Both the government and OGRA anticipate that this move will bring stability to the energy sector in the country.