This is the single biggest surge in oil prices since July 2008 and is expected to generate about Rs11 billion in revenue for the government. — Photo by AFP

LAHORE: A petition was filed in the Lahore High Court (LHC) on Friday challenging the recent increase in petroleum prices, DawnNews reported.

Petitioner Mateenul Haq stated that the government unable to control unnecessary expenditure was penalising the public by increasing the prices of commodities.

The petitioner further stated that the recent increase in petrol prices would lead to a further increase in prices of other products and services and would therefore create more difficulties for an already burdened populace.

The petitioner requested the court to issue directives to reverse the petrol price hike.

The government on Thursday raised petroleum prices by up to 13 per cent to pass on the full impact of international market to consumers.

The price of diesel was increased by 13 per cent and that of petrol by about 10 per cent.

Informed sources said the ministries of petroleum and finance and the Oil and Gas Regulatory Authority (Ogra) had advised the government to raise the prices of petroleum products by 10-12 per cent.

The impact of March prices in the international market has now been fully passed on to the consumer.

The sources said the government had absorbed a loss of Rs35 billion over the past four months.

This is the single biggest surge in oil prices since July 2008 and is expected to generate about Rs11 billion in revenue for the government. The recent instability in the Middle East has led to a recent hike in oil prices.