KARACHI - The Pakistan People’s Party (PPP) on Sunday has rejected the hike in petroleum products’ prices.

In a statement, former opposition leader in National Assembly Khurshid Shah has demanded the caretaker government to withdraw its decision. He also urged to provide maximum relief to the nation.

Earlier, the caretaker government approved Saturday night a significant upward revision in the petroleum prices, citing an official announcement, with the new rates being effective by July 1.

As per the notification, the new per-liter prices of petrol, diesel, kerosene oil, light diesel, and high-speed diesel are Rs99.50, Rs119.31, Rs87.70, Rs80.91, and Rs105.31, respectively.

This effectively implies a respective price hike of Rs7.54, Rs14.00, Rs3.36, Rs.5.92, and Rs6.55 in petrol, diesel, kerosene oil, light diesel, and high-speed diesel.

Earlier, the Oil and Gas Regulatory Authority (OGRA) had recommended an increase in the prices of petrol, diesel, and kerosene oil by Rs5.40, Rs6.20, and Rs12, respectively, for July 2018.

It forwarded a summary proposing the aforementioned revision to the Petroleum Division of the Ministry of Energy, sources had said. Prior to the latest development, the caretaker leadership on June 11 had bumped up the prices by Rs4.26, Rs6.55, and Rs4.46 per liter, respectively, for petrol, diesel, and kerosene oil for the June 12-30 period.