The Oil and Gas Regulatory Authority recommending an increase in the price of petroleum products, the summary which was approved by federal government on Wednesday.
Petrol went up by Rs5.15 per liter. The new price of petrol is Rs117.83 per liter. The price of high speed diesel was hiked by Rs5.65, taking it to 132.47 per liter.
The rates of kerosene and light diesel oils were increased by Rs5.38 and Rs8.90 per liter respectively.
The new prices have already taken effect from 12-am on Thursday. However, the Ministry of Finance has yet to notify the new prices.
The Oil and Gas Regulatory Authority, forwarded a summary on Tuesday, recommending the federal government to increase prices of petroleum products up to 10% for the month of August.
Increase in prices will directly impact consumers, who are already suffering due to high taxes and prices of products.