The government on Friday announced a steep increase in petroleum prices, raising both petrol and high-speed diesel by Rs26.77 per litre, according to an official notification issued by the Petroleum Division.

Under the revised rates, petrol will now cost Rs393.35 per litre, while diesel has been set at Rs380.19 per litre.

The new prices will come into effect from midnight (April 25) and remain applicable for the coming week.

Officials said the increase reflects rising global oil prices amid regional tensions, forcing the government to pass on the financial burden despite efforts to absorb some of the impact.

Federal Minister for Energy (Petroleum Division) Ali Pervaiz Malik said the surge in international oil prices and commitments with global partners necessitated the adjustment.

He noted that the government had attempted to cushion consumers but could no longer sustain the pressure.

The fresh increase is expected to intensify inflationary pressures, particularly in transport and essential commodities.

Authorities warned that higher fuel costs could translate into increased logistics expenses nationwide, adding to the financial strain on consumers.