The federal government is set to announce another massive increase in the prices of petrol for the second time in a row.

According to sources, the price of petrol could be increase by as much as Rs8.5.

The price of petrol currently sits at Rs289.41. The government had increased the prices by Rs9.66 on March 31.

The new increase could take the price of petrol to Rs298 per litre.

Meanwhile, the price of diesel had fallen to Rs282.24 after the reduction of Rs3.32.

Petrol is mostly used in private transport, small vehicles, rickshaws and two-wheelers while diesel is used in heavy vehicles, trains and agricultural engines like trucks, buses, tractors, tube wells and thrashers.

Fuel prices are announced by the government every fortnight. The prices are dependant on a number of factors including international prices and the rupee’s exchange rate.