Fuel prices hike challenged in court

LAHORE: The recent increase in petroleum product prices has been challenged in the Lahore High Court (LHC), ARY News reported on Wednesday.

A petition has been filed by Advocate Azhar Siddique, adopting a stance that the hike in petroleum product prices was unlawful.

The increase is an added burden for the people, petitioner said seeking the court order against the upward revision in petroleum product prices.

It is apropos to highlight here that the federal government has revised prices of all petroleum products upward for the month of November in an announcement earlier today.

A notification of the petroleum ministry said the fuel prices have been increased to keep up the trend of hike in crude oil prices in the global market.

The petroleum ministry has enhanced the price of light diesel oil (LDO) by Rs three per litre and that of kerosene oil by Rs 5.19 per litre. The price of high-speed diesel (HSD) has been hiked by Rs 5.19 per litre and petrol by Rs 2.49 per litre, the government announced.

The new price of HSD has now been fixed at Rs 84.59 per litre, while that of petrol is Rs 75.99 per litre. The new price of kerosene is Rs 53.19 per litre while the new price of LDO stands at Rs 47 per litre.

The crude oil prices in the global market witnessed an increase from $52 per barrel to $60 during the last month. In the wake of this trend of hike, the Oil and Gas Regulatory Authority (Ogra) had recommended an increase in the prices of petroleum products.