Saturday, October 23, 2021

Revision of petrol prices after every 15 days challenged in LHC

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LAHORE: The Lahore High Court (LHC) on Monday issued notices to the federal government, Oil and Gas Regulator Authority (OGRA), and others on a petition challenging the hike in prices of petroleum products.

The LHC bench after a preliminary hearing, the court issued notices to the official respondents to file their response to the petition by the next hearing.

The petitioner stated before the court that more burden has been put on a common man who is already reeling from rising inflation.”There is no reason to review the prices of the petroleum products after every fifteen days,” the applicant said.

The applicant has requested the bench to order the government to slash the petrol prices.

Read more: OGRA proposes hike in fuel prices: sources

On Sunday, the Oil and Gas Regulatory Authority (OGRA) had proposed an increase of Rs5.50 per litre in petrol prices from March 16, said sources.

According to the sources, the OGRA recommended an increase of Rs5.75 per litre prices of high-speed diesel (HSD). The regulator has forwarded its summary regarding new rates of petroleum products to the ministry.

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