Petrol, diesel prices hiked by up to Rs6.47 per litre

ISLAMABAD: The federal government has increased the prices of petrol and high-speed diesel by up to Rs6.47 per litre, with the new rates coming into effect from August 18.

The price of high-speed diesel has been increased by Rs6.47 per litre, taking its price to Rs390.42 per litre.

The price of petrol has been raised by Rs5.77 per litre, with the new price set at Rs331.20 per litre.

The new prices were issued under the federal government’s revised mechanism for determining petroleum product prices.

The revised rates will take effect from August 18, according to the notification issued by the government.

The increase is likely raise transportation and operating costs, particularly for motorists, public transport operators, farmers and businesses that rely heavily on diesel.

The government revises petroleum prices periodically in line with the applicable pricing mechanism and prevailing international market conditions.