The federal government increased on Monday the prices of petrol and high-speed diesel (HSD) for the next fortnight by Rs9.99 and Rs6.18, respectively. The fuel prices will be applicable from July 16 (Tuesday).

“The prices of petroleum products have seen an increasing trend in the international market during the last fortnight,” the finance ministry said in a statement.

The new rates of petrol and diesel after a big increase are Rs275.60/litre and Rs283.63/litre.

On July 1, the government increased the rates of petrol and HSD by Rs7.45 and Rs9.56.

Last month, the federal government revised the Rs80 per litre petroleum development levy to Rs70/ltr after days of budget debate sessions in the National Assembly and Senate recommendations.

International oil prices held steady on Monday as worries about demand in top importer China offset support from OPEC+ supply restraint and ongoing tensions in the Middle East, Reuters reported.

Brent futures rose 3 cents to $85.06 a barrel by 12:25pm EDT (1625 GMT) while US West Texas Intermediate (WTI) crude fell 8 cents, or 0.1%, to $82.13.