Karachi: Small traders have resented the hike in prices of petroleum products and said they would further escalate inflation and harm economy.

All Pakistan Organization of Small Traders and Cottage Industries (APOST&CI) Karachi chapter president Mehmood Hamid here Thursday said this is the continuous third occasion that the government has raised oil prices. He said it is clearly an anti-people decision and it would raise production and transportation costs, resulting in unending price hike.

He said instead of raising rates of oil the government should decrease huge indirect taxes being levied on petroleum products.