Petroleum price hike challenged in Lahore High Court
The latest increase in petroleum prices has been challenged in the Lahore High Court (LHC), with the petitioner urging the court to order an immediate reduction in petrol and diesel prices.
The petition argues that international oil prices have declined, yet the government has continued to increase petroleum prices in Pakistan. It claims consumers are being forced to pay billions of rupees through higher fuel prices despite the drop in global oil prices.
According to the petitioner, oil marketing companies are earning record profits because petrol is being sold at excessively high prices. The petition maintains that, based on international market trends, petrol should be priced at around Rs270 per litre instead of the current rate.
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The petitioner also argued that the price of high-speed diesel should be fixed at Rs293 per litre. It requested the court to direct the federal government to reduce petroleum prices in line with international market rates. The petition was filed after the federal government announced a fresh increase in petroleum prices on Friday, raising the prices of both petrol and high-speed diesel with immediate effect.
Under the latest notification, the price of petrol has been increased by Rs13.18 per litre, taking the new rate to Rs310.71 per litre. The government also increased the price of high-speed diesel by Rs13.80 per litre, raising the new rate to Rs323.30 per litre.
According to the official notification, the revised petroleum prices will remain in effect for the coming week. The government attributed the latest increase in fuel prices to rising global oil prices following renewed tensions between the United States and Iran after a brief ceasefire.
