ISLAMABAD, July 10: The federal government has announced a fresh petrol price hike, increasing the rates of petrol and high-speed diesel with immediate effect.
The government has increased the petrol price by Rs13.18 per litre for the next week.
According to the notification, the new petrol price has been fixed at Rs310.71 per litre.
The price of high-speed diesel has also been increased by Rs13.80 per litre, taking the new rate to Rs323.30 per litre.
The notification said the revised prices of petroleum products will remain effective for the coming week.
The latest hike in petrol and diesel prices has been attributed to the fresh escalation between the US and Iran following a brief ceasefire.
The latest increase comes days after oil marketing companies and refineries raised concerns over the government’s fuel pricing policy. The Oil Companies Advisory Council (OCAC) had warned that unilateral pricing decisions were putting severe financial pressure on the industry and could disrupt fuel supplies if the issue remained unresolved.