The federal government has increased the prices of petroleum products by up to Rs7.95 per litre, according to a notification issued by the Finance Division late Sunday night.

Based on the recommendations of the Oil and Gas Regulatory Authority (OGRA) and relevant ministries, the price of petrol has been raised by Rs4.80 per litre, while the price of high-speed diesel (HSD) has gone up by Rs7.95 per litre.

Following the hike, the price of petrol has increased from Rs253.63 to Rs258.43 per litre. Similarly, the new price of HSD now stands at Rs262.59 per litre, up from the previous Rs254.64.

The revised prices came into effect immediately from June 16.

The government cited international market trends as the basis for the adjustment. Fuel prices in Pakistan are reviewed fortnightly, depending on global oil prices and the local currency exchange rate.