Petroleum Ministry recommends fuel price hike of up to Rs 9.5 per litre

Petroleum Ministry has recommended fuel price hike of up to Rs 9.5 per litre for the month of August.

According to details, Petroleum Ministry has recommended a price hike in petroleum prices up to Rs 9.5 per litre. In a summary sent to Finance Ministry, petroleum division has suggested an increase of Rs7/litre in petrol price, Rs 9.5 in diesel price, Rs 6.21 in light diesel oil (LDO) prices and Rs 6 increase for kerosene.

As per the new suggested price hikes, petrol will be available at Rs 107.1/litre,  diesel – Rs110.96/litre, light diesel oil – Rs 62.19/litre and kerosene oil at Rs62.0 /litre.

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It is to be noted that federal government in June, had increased petrol prices by Rs 25.58/litre, disel by Rs 21.31/litre, kerosene oil – Rs23.50/litre and light diesel oil by Rs 17.84/litre.

The price hike was later challenged in Lahore High Court (LHC) claiming that the decision to increase petroleum prices was not approved by federal cabinet and hence is unconstitutional and illegal.