A petition has been filed in a Pakistani court challenging the recent increase in petroleum prices, arguing that fuel prices are falling in the international market while the government continues to raise rates in Pakistan. The petition claims that billions of rupees are being recovered from the public by selling petrol at exorbitant rates.
Petitioner Alleges Record Profits for Oil Companies
The petitioner alleged that oil companies are making record profits by selling petrol at inflated prices. Based on international market trends, the petition argues that the price of petrol should be Rs270 per litre instead of the current Rs310.71 per litre. It also states that the price of diesel should be fixed at Rs293 per litre and requests the court to direct the government to reduce petroleum prices.
Government's Latest Price Hike
Earlier on Friday, the federal government announced another increase in the prices of petrol and high-speed diesel with immediate effect. Petrol prices were raised by Rs13.18 per litre for the coming week. According to the official notification, the new price of petrol has been set at Rs310.71 per litre. The price of high-speed diesel has also been increased by Rs13.80 per litre, taking the new rate to Rs323.30 per litre.
Reason Behind the Increase
The notification said the revised petroleum prices will remain in effect for the coming week. Officials said the latest increase in petrol and diesel prices was linked to renewed tensions between the United States and Iran following a brief ceasefire. The petitioner, however, contests that global market trends do not justify such a steep rise.
