FIA to investigate OMCs, OGRA officials over fuel hoarding

The government has launched an investigation into alleged hoarding of petroleum products, with Prime Minister Shehbaz Sharif directing the Federal Investigation Agency (FIA) to examine the role of certain oil marketing companies and officials of the Oil and Gas Regulatory Authority, according to a news report. 

The probe follows reports of panic buying after the outbreak of conflict involving Iran, which prompted the government to increase petrol and high-speed diesel prices on March 7 to maintain supply.

Initial findings indicate that one oil marketing company may have engaged in stockpiling to restrict supply and influence prices. FIA Karachi has recorded statements from officials, including a senior representative of the Directorate General of Oil, who pointed to possible market manipulation.

The issue was also raised in a communication from OGRA to the government dated April 16, 2026, in which the regulator sought approval for a Rs128 billion mechanism to clear price differential claims of oil marketing companies.

OGRA stated that companies found to be involved in hoarding would not qualify for these payments.

Officials said the FIA investigation is progressing and a report is expected to be submitted to the prime minister.