Govt hikes petrol, diesel prices after talks with pump owners fail

WEB DESK: The federal government on Tuesday revised petroleum prices for the new fortnight, increasing the rates of both petrol and high-speed diesel with effect from July 22.

According to an official notification, the price of petrol has been increased by Rs4.83 per litre, taking the new rate to Rs320.73 per litre.

Meanwhile, the price of high-speed diesel (HSD) has been raised by Rs7.15 per litre, bringing the new rate to Rs367 per litre.

The revised fuel prices will remain effective until the next review, unless changed earlier by the government.

The latest revision comes after the government on Monday reduced petrol prices by Rs0.35 per litre to Rs315.80, while increasing the price of high-speed diesel by Rs5.71 per litre to Rs360.6.

The government reviews petroleum prices every day in line with fluctuations in international oil markets, exchange rate movements, and recommendations from the relevant authorities.