Prime Minister Yusuf Raza Gilani Friday gave a new-year gift of hike in prices of petroleum products to the nation with petrol becoming expensive by Rs6.71 and diesel Rs4.25 per litre, Geo News reported.

According to sources, the Prime Minister approved the proposal of Oil and Gas Regulatory Authority’s proposal of rise in POL prices.

With the beginning of new-year at 12 am, petrol will become expensive by Rs6.71 per litre; diesel price will go up by Rs4.25 a litre; Kerosene oil Rs4.04 and; Light Diesel Rs4.36 and; rate of High Octane will shoot up by 7.69 a litre.

The government has withdrawn its decision to reduce the rate of tax on petroleum products, sources said.

As usual, sale of petrol and diesel was suspended at many petrol pumps across the country soon after the reports of rise in prices of petroleum products aired on media.

The fresh increase in prices of petroleum products will unleash a massive spell of price spiral, further burdening the people who are already unable to bear the existing inflation.

Reacting with highest degree of ire, the common people have totally rejected the government’s move that will only unleash a new tsunami of price hike for Pakistanis. courtesy geo tv.