Hike in petroleum products challenged in LHC

LAHORE : The fresh increase in petroleum products’ prices by the government was challenged in the Lahore High Court (LHC) on Saturday. The petition, filed by advocate Muneer Ahmed, stated that the increase in the prices was illegal as rules and regulations were not followed by the government. It said the petroleum prices were increased without taking approval from the federal cabinet. The petitioner pleaded with the court to declare the recent increase in the fuel prices as illegal. In a bombshell development, the federal government had yesterday increased petrol price by Rs25.58 after decreasing it a short while back resulting in a countrywide scarcity. According to a notification issued by the government on the matter, new price for a litre of petrol is now Rs100.10. High-Speed Diesel’s new price is now Rs101.46 per litre with an increase of Rs21.31. Light diesel’s new price is Rs55.98 per litre registering an increase of Rs17.84 whereas kerosene oil’s new price would now be Rs59.06 per litre with an increase of Rs23.50. The new petroleum prices will come into effect after 12 am tonight. It is pertinent to mention here that petroleum prices in the country went through significant decrease earlier in the month which subsequently made Pakistan one of the cheapest sellers in the region but that status couldn’t even be upheld for a month.