LHC moved against massive hike in petrol prices

Lahore: Lahore High Court (LHC) has been moved against the massive hike in petrol prices in Pakistan on Saturday.

According to details, Azhar Siddique, the chairman of the judicial activism panel, petitioned the Lahore High Court against the increase in the petroleum prices.

The petition claimed that while oil prices had decreased on the international market, they had increased in Pakistan. The announcement of the current increase in petrol prices should be stopped since it will cause skyrocketing inflation.

Earlier, the caretaker government jacked up the petrol price by more than Rs26 and diesel price by over Rs17 per litre on Friday.

According to the Finance Ministry, the decision has been taken due to the increase in oil prices in the international market. 

A massive hike of Rs26.2 per litre was made on petrol and the new price would be Rs331.38 per litre.

Furthermore, Rs17.34 was jacked up on diesel and the new price would be Rs329.18 per litre.

 This is the second time within a month that prices of petroleum products have been increased to take them to a historic high.