According to a statement issued by the Finance Division late on Friday, the government has raised the prices of both petrol and high-speed diesel by Rs4 per litre.

The statement said that PM Imran Khan rejected the proposal of Oil and Gas Regulatory Authority (OGRA) for an increase in prices of petroleum products and advised to increase only Rs4 per litre.

The Rs4 increase in the price of petrol is announced to meet the petroleum levy target agreed with the International Monetary Fund (IMF).

The new price of petrol will be Rs144.82 per litre against the previous price of Rs140.82 per litre and that of high-speed diesel will be Rs141.62 per litre as against Rs137.62 per litre.

As per the notification, the prices of kerosene and light diesel oil have also been increased by Rs3.95 and Rs4.15 per litre respectively.

The new prices will be effective from midnight, the notification added.