The federal government has announced a new increase in the prices of petroleum products, as detailed in a notification from the Finance Division. The price of petrol has risen by Rs. 8.36 per liter, bringing it to Rs. 266.79, while high-speed diesel has seen an increase of Rs. 10.39, now priced at Rs. 272.98 per liter.

This adjustment follows the last fortnightly review, during which the government raised the prices of petrol and high-speed diesel by Rs. 4.80 and Rs. 7.95 per liter, respectively.

The recent price hikes come in the wake of a 12-day conflict that began on June 13, when Israel targeted Iran’s nuclear sites, causing oil prices to surge above $80 per barrel. However, prices have since retreated below $70 per barrel following the announcement of a ceasefire.