The federal government increased the price of petrol by Rs17.5 on Tuesday.
The new price of petrol has now reached Rs290.45.
The price of diesel has also been increased by Rs20 to Rs293.40.
The finance division has formally notified the prices and they will be effective till the next fortnight.
The Oil and Gas Regulatory Authority had sent a summary to the Ministry of Petroleum recommending an increase of Rs12 in the prices of petrol for the next fortnight.
Apart from recommending an Rs12 increase in per litre price of petrol, OGRA had also recommended an increase of Rs20 in the price of high-speed diesel, Rs10 for kerosene and Rs8 for light diesel.
Authorities said that the new prices were based on the OGRA summary as well as the prices of oil in the international market. The international market has seen an increase in the price of oil in the last week. However, a decrease was seen on Monday.
With no caretaker cabinet in place, the prices were discussed between finance ministry officials and the newly sworn in caretaker prime minister.
The last change, announced on August 1, was an increase of Rs20 in the price of oil.
