Govt announces Rs 4.80 hike for petrol, Rs 7.95 for diesel

The federal government announced a fresh increase in petroleum prices, with petrol and high-speed diesel both seeing major hikes, according to a notification issued by the Ministry of Finance on Saturday.

As per the notification, the price of petrol has been raised by Rs 4.80 per litre, bringing the new rate to Rs 258.45, while high-speed diesel has gone up by Rs 7.95, now priced at Rs 262.59 per litre.

The revised prices will come into effect from midnight, June 16, and will remain applicable until June 30.

Officials attributed the hike to rising oil prices in the international market, driven by heightened geopolitical tensions in the Middle East amid the ongoing conflict between Israel and Iran.